American International Group (NYSE:AIG) Hits New 12-Month High – Here’s Why

American International Group, Inc. (NYSE:AIG) reached a new 52-week high on Monday . The stock traded as high as $83.92 and last traded at $84.08, with a volume of 173524 shares trading hands. The stock had previously closed at $82.73.

Wall Street Analysts Forecast Growth

AIG has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. BMO Capital Markets boosted their price target on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday. Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Finally, HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Up 1.1 %

The business’s 50 day moving average is $76.25 and its 200-day moving average is $75.30. The company has a market cap of $49.60 billion, a PE ratio of -40.21, a P/E/G ratio of 1.01 and a beta of 0.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

Insider Buying and Selling at American International Group

In other news, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $770,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On American International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. acquired a new position in American International Group in the fourth quarter worth about $25,000. Asset Planning Inc bought a new position in American International Group in the 4th quarter worth approximately $26,000. True Wealth Design LLC bought a new position in American International Group in the 3rd quarter valued at about $29,000. Ameriflex Group Inc. bought a new stake in shares of American International Group in the 4th quarter worth $29,000. Finally, BankPlus Trust Department bought a new position in shares of American International Group during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

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.