American International Group (NYSE:AIG) Price Target Raised to $87.00

American International Group (NYSE:AIG) had its price objective upped by Royal Bank Of Canada from $85.00 to $87.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a sector perform rating on the insurance provider’s stock.

AIG has been the topic of a number of other research reports. The Goldman Sachs Group increased their price objective on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $92.00 in a research note on Thursday, July 9th. Wells Fargo & Company decreased their target price on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday. Bank of America dropped their price target on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, UBS Group raised their price target on shares of American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.39.

American International Group Stock Performance

Shares of NYSE AIG opened at $76.14 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. American International Group has a one year low of $71.25 and a one year high of $87.29. The business’s 50-day moving average price is $77.50 and its two-hundred day moving average price is $76.87. The company has a market capitalization of $39.81 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 0.71 and a beta of 0.53.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.03% and a net margin of 11.13%.During the same period last year, the business earned $1.81 EPS. Analysts anticipate that American International Group will post 7.99 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s payout ratio is 36.56%.

Hedge Funds Weigh In On American International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia lifted its stake in shares of American International Group by 131.5% in the second quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider’s stock worth $87,607,000 after buying an additional 667,791 shares during the last quarter. Evolve Private Wealth LLC bought a new stake in shares of American International Group during the 2nd quarter worth $2,645,000. EP Wealth Advisors LLC grew its stake in American International Group by 31.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 12,613 shares of the insurance provider’s stock valued at $940,000 after buying an additional 3,010 shares during the last quarter. Ieq Capital LLC grew its stake in American International Group by 29.6% in the 2nd quarter. Ieq Capital LLC now owns 65,907 shares of the insurance provider’s stock valued at $4,912,000 after buying an additional 15,040 shares during the last quarter. Finally, Callan Family Office LLC raised its holdings in American International Group by 2.0% in the 2nd quarter. Callan Family Office LLC now owns 26,313 shares of the insurance provider’s stock worth $1,961,000 after acquiring an additional 512 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.