American International Group, Inc. (NYSE:AIG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of American International Group, Inc. (NYSE:AIG) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $84.80.

A number of research analysts recently weighed in on AIG shares. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company lowered their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price for the company. Bank of America upped their price target on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th.

American International Group Stock Up 0.5 %

NYSE AIG opened at $72.84 on Wednesday. American International Group has a 52 week low of $66.06 and a 52 week high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $45.44 billion, a P/E ratio of -21.49, a price-to-earnings-growth ratio of 7.30 and a beta of 1.05. The stock’s 50-day moving average price is $75.52 and its 200-day moving average price is $74.94.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the business earned $1.61 EPS. On average, equities research analysts predict that American International Group will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Hedge Funds Weigh In On American International Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in American International Group by 1.3% in the third quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock worth $53,785,000 after buying an additional 9,118 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of American International Group by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after acquiring an additional 457,821 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of American International Group by 6.5% during the 3rd quarter. Synovus Financial Corp now owns 42,684 shares of the insurance provider’s stock worth $3,126,000 after purchasing an additional 2,603 shares during the period. Wilmington Savings Fund Society FSB bought a new position in American International Group during the 3rd quarter valued at about $1,005,000. Finally, Virtu Financial LLC purchased a new stake in American International Group in the 3rd quarter worth about $2,880,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.