American International Group (NYSE:AIG) Sets New 12-Month High – Still a Buy?

American International Group, Inc. (NYSE:AIG) reached a new 52-week high during trading on Wednesday . The company traded as high as $85.11 and last traded at $84.73, with a volume of 139758 shares. The stock had previously closed at $83.92.

Analyst Ratings Changes

AIG has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. Morgan Stanley lifted their target price on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. UBS Group decreased their price objective on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 target price (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Performance

The business’s fifty day simple moving average is $77.94 and its 200-day simple moving average is $75.71. The company has a market capitalization of $50.12 billion, a P/E ratio of -40.63, 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 quick ratio of 0.67 and a current 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 for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.89%. American International Group’s payout ratio is -76.92%.

Insider Buying and Selling

In other news, Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American International Group

Several hedge funds have recently modified their holdings of AIG. Snowden Capital Advisors LLC raised its stake in American International Group by 1.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider’s stock worth $769,000 after buying an additional 146 shares in the last quarter. Catalina Capital Group LLC boosted its position in American International Group by 5.1% during the fourth quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 148 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in American International Group by 1.8% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider’s stock valued at $641,000 after purchasing an additional 152 shares during the last quarter. Pitcairn Co. raised its holdings in American International Group by 2.2% in the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock worth $536,000 after purchasing an additional 158 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of American International Group by 1.6% during the third quarter. Independent Advisor Alliance now owns 10,393 shares of the insurance provider’s stock valued at $761,000 after buying an additional 161 shares during the last quarter. 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.