Royal Bank of Canada reiterated their outperform rating on shares of American International Group (NYSE:AIG) in a report released on Friday morning, The Fly reports. Royal Bank of Canada currently has a $58.00 target price on the insurance provider’s stock. The analysts noted that the move was a valuation call.
A number of other analysts also recently issued reports on the stock. Deutsche Bank reduced their price target on shares of American International Group from $54.00 to $52.00 and set a hold rating on the stock in a report on Monday, October 22nd. Wells Fargo & Co set a $62.00 price target on shares of American International Group and gave the company a buy rating in a report on Thursday, October 18th. Morgan Stanley set a $65.00 price target on shares of American International Group and gave the company a buy rating in a report on Wednesday, October 17th. Argus reduced their price target on shares of American International Group from $58.00 to $50.00 and set a buy rating on the stock in a report on Friday, November 2nd. Finally, Zacks Investment Research upgraded shares of American International Group from a sell rating to a hold rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $59.31.
NYSE AIG traded down $1.51 on Friday, reaching $37.90. The company had a trading volume of 9,247,854 shares, compared to its average volume of 7,480,186. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market cap of $34.86 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.38 and a beta of 1.49. American International Group has a 12 month low of $37.83 and a 12 month high of $65.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Wednesday, December 12th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, December 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.38%. American International Group’s payout ratio is currently 53.33%.
Several large investors have recently modified their holdings of AIG. Capital International Investors purchased a new position in shares of American International Group in the 3rd quarter worth $698,240,000. Macquarie Group Ltd. grew its stake in shares of American International Group by 38,370.8% in the 2nd quarter. Macquarie Group Ltd. now owns 12,733,842 shares of the insurance provider’s stock worth $675,148,000 after buying an additional 12,700,742 shares in the last quarter. FMR LLC grew its stake in shares of American International Group by 56.3% in the 2nd quarter. FMR LLC now owns 22,621,535 shares of the insurance provider’s stock worth $1,199,393,000 after buying an additional 8,149,702 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of American International Group by 81.1% in the 2nd quarter. AustralianSuper Pty Ltd now owns 3,078,000 shares of the insurance provider’s stock worth $163,196,000 after buying an additional 1,378,000 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of American International Group by 83.1% in the 3rd quarter. Clearbridge Investments LLC now owns 2,926,105 shares of the insurance provider’s stock worth $155,786,000 after buying an additional 1,327,988 shares in the last quarter. 90.18% of the stock is owned by institutional investors and hedge funds.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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