American International Group (NYSE:AIG) Price Target Raised to $90.00

American International Group (NYSE:AIG) had its price target increased by Evercore ISI from $89.00 to $90.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have an in-line rating on the insurance provider’s stock.

Other research analysts also recently issued reports about the stock. Cfra Research raised shares of American International Group to a “moderate buy” rating in a research report on Monday, August 11th. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Wolfe Research began coverage on shares of American International Group in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, William Blair raised shares of American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.31.

American International Group Stock Up 1.8%

Shares of NYSE AIG opened at $81.05 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $79.30 and its 200 day moving average is $81.70. The company has a market cap of $44.90 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.85 and a beta of 0.68. American International Group has a 52 week low of $69.24 and a 52 week high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities research analysts expect that American International Group will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group’s dividend payout ratio is currently 34.09%.

Institutional Trading of American International Group

Several institutional investors have recently bought and sold shares of the company. GQG Partners LLC grew its position in American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares during the last quarter. Franklin Resources Inc. grew its position in American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after purchasing an additional 716,209 shares during the last quarter. Bank of New York Mellon Corp grew its position in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. Norges Bank purchased a new stake in American International Group during the 2nd quarter valued at about $787,724,000. Finally, Hotchkis & Wiley Capital Management LLC grew its position in American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after purchasing an additional 1,694,290 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.