American International Group (NYSE:AIG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of American International Group (NYSE:AIG) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on AIG. Keefe, Bruyette & Woods dropped their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 12th. Argus reiterated a “buy” rating and set a $90.00 target price on shares of American International Group in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. raised their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Barclays lifted their price target on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company upped their price target on shares of American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.79.

American International Group Stock Down 3.9%

Shares of NYSE AIG opened at $77.77 on Friday. American International Group has a 1 year low of $71.25 and a 1 year high of $87.29. The firm has a market cap of $40.32 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 0.82 and a beta of 0.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.61 and a current ratio of 0.60. The stock’s 50-day simple moving average is $77.46 and its 200-day simple moving average is $76.94.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.18. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.42 billion. American International Group had a return on equity of 10.86% and a net margin of 11.86%. During the same quarter in the prior year, the business posted $2.20 earnings per share. As a group, equities analysts anticipate that American International Group will post 8.10 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 16th. American International Group’s dividend payout ratio (DPR) is 32.57%.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the transaction, the insider directly owned 556,004 shares of the company’s stock, valued at $42,334,144.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American International Group

Several large investors have recently made changes to their positions in AIG. Wellington Management Group LLP boosted its position in shares of American International Group by 6.9% during the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock worth $2,260,622,000 after buying an additional 1,961,270 shares during the period. State Street Corp increased its position in American International Group by 0.8% in the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock valued at $1,871,852,000 after acquiring an additional 196,969 shares during the period. Bank of New York Mellon Corp increased its position in American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after acquiring an additional 474,035 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in American International Group during the 2nd quarter valued at $464,539,000. Finally, Dimensional Fund Advisors LP raised its stake in American International Group by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock valued at $462,147,000 after acquiring an additional 303,201 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets.

AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

AIG provides insurance through its subsidiaries and operates across a range of markets worldwide.