American International Group (NYSE:AIG) Price Target Raised to $48.00


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American International Group (NYSE:AIG) had its price objective boosted by JPMorgan Chase & Co. from $39.00 to $48.00 in a report published on Monday, The Fly reports. The firm currently has a neutral rating on the insurance provider’s stock.

AIG has been the topic of a number of other reports. Royal Bank of Canada increased their price target on American International Group from $49.00 to $52.00 in a research report on Thursday, April 1st. Credit Suisse Group increased their price objective on American International Group from $35.00 to $42.00 and gave the company a neutral rating in a research report on Monday, March 1st. Atlantic Securities upgraded American International Group from a neutral rating to an overweight rating and set a $55.00 price objective on the stock in a research report on Thursday, March 4th. Deutsche Bank Aktiengesellschaft increased their price objective on American International Group from $38.00 to $44.00 and gave the company a hold rating in a research report on Friday, February 19th. Finally, Wells Fargo & Company lowered American International Group from an overweight rating to an equal weight rating and set a $42.00 price objective on the stock. in a research report on Monday, January 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $45.07.

NYSE AIG opened at $47.08 on Monday. The firm has a market cap of $40.71 billion, a PE ratio of -8.09, a price-to-earnings-growth ratio of 0.93 and a beta of 1.36. American International Group has a one year low of $22.14 and a one year high of $49.00. The stock’s 50 day simple moving average is $45.99 and its 200 day simple moving average is $38.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.33 and a quick ratio of 0.33.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, February 15th. The insurance provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.04 billion. American International Group had a positive return on equity of 3.62% and a negative net margin of 10.82%. During the same period in the prior year, the company earned $1.03 EPS. As a group, equities analysts expect that American International Group will post 2.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Shareholders of record on Tuesday, March 16th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, March 15th. American International Group’s dividend payout ratio is 27.89%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group raised its stake in shares of American International Group by 3.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 8,492 shares of the insurance provider’s stock valued at $322,000 after purchasing an additional 291 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in shares of American International Group by 3.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 10,375 shares of the insurance provider’s stock valued at $393,000 after acquiring an additional 300 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of American International Group by 28.2% in the 4th quarter. Penserra Capital Management LLC now owns 1,830 shares of the insurance provider’s stock valued at $69,000 after acquiring an additional 402 shares in the last quarter. CX Institutional grew its holdings in shares of American International Group by 65.0% in the 4th quarter. CX Institutional now owns 1,069 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 421 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in American International Group by 6.0% during the fourth quarter. Mather Group LLC. now owns 8,348 shares of the insurance provider’s stock worth $316,000 after purchasing an additional 473 shares during the period. 87.04% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Company Profile

American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.

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