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

American International Group, Inc. (NYSE:AIG) has been given a consensus recommendation of “Hold” by the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $87.7778.

AIG has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Keefe, Bruyette & Woods upped their target price on American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Bank of America dropped their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Citigroup upped their target price on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Weiss Ratings downgraded American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th.

Institutional Investors Weigh In On American International Group

A number of large investors have recently added to or reduced their stakes in AIG. Capital Research Global Investors boosted its position in American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Norges Bank bought a new stake in American International Group during the fourth quarter worth approximately $636,782,000. Price T Rowe Associates Inc. MD boosted its position in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after purchasing an additional 4,661,246 shares during the period. Franklin Resources Inc. boosted its position in American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after purchasing an additional 4,210,363 shares during the period. Finally, Wellington Management Group LLP boosted its position in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG stock opened at $74.81 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $75.81 and a 200 day simple moving average of $77.32. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a market capitalization of $39.67 billion, a P/E ratio of 13.19, a PEG ratio of 0.70 and a beta of 0.52.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the previous year, the business earned $1.17 earnings per share. Sell-side analysts predict that American International Group will post 7.98 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio (DPR) is presently 35.27%.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.