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.

Several other brokerages also recently commented on AIG. Credit Suisse Group raised their price objective on American International Group from $35.00 to $42.00 and gave the stock a neutral rating in a research note on Monday, March 1st. Morgan Stanley raised their price objective on American International Group from $36.00 to $52.00 and gave the stock an overweight rating in a research note on Wednesday, March 3rd. Citigroup raised their price objective on American International Group from $43.00 to $48.00 in a research note on Wednesday, March 31st. Zacks Investment Research downgraded American International Group from a hold rating to a sell rating and set a $45.00 price target on the stock. in a research note on Thursday, February 18th. Finally, Atlantic Securities raised American International Group from a neutral rating to an overweight rating and set a $55.00 price target on the stock in a research note on Thursday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $45.07.

Shares of AIG opened at $47.08 on Monday. The firm has a market capitalization of $40.71 billion, a price-to-earnings ratio of -8.09, a PEG ratio of 0.93 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.33 and a current ratio of 0.33. The business’s fifty day moving average price is $45.99 and its two-hundred day moving average price is $38.65. American International Group has a 52 week low of $22.14 and a 52 week high of $49.00.

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

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Guggenheim Capital LLC lifted its holdings in American International Group by 3.6% during the 3rd quarter. Guggenheim Capital LLC now owns 76,752 shares of the insurance provider’s stock valued at $2,113,000 after purchasing an additional 2,666 shares during the last quarter. Wealth Alliance increased its position in American International Group by 4.2% during the 3rd quarter. Wealth Alliance now owns 14,861 shares of the insurance provider’s stock worth $409,000 after buying an additional 598 shares during the period. Truist Financial Corp increased its position in shares of American International Group by 3.2% in the third quarter. Truist Financial Corp now owns 37,837 shares of the insurance provider’s stock worth $1,042,000 after purchasing an additional 1,188 shares during the period. Public Sector Pension Investment Board grew its position in American International Group by 25.5% in the third quarter. Public Sector Pension Investment Board now owns 104,290 shares of the insurance provider’s stock valued at $2,871,000 after acquiring an additional 21,200 shares during the last quarter. Finally, Engineers Gate Manager LP grew its position in American International Group by 829.7% in the third quarter. Engineers Gate Manager LP now owns 71,399 shares of the insurance provider’s stock valued at $1,966,000 after acquiring an additional 63,719 shares during the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.

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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