American International Group (NYSE:AIG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American International Group (NYSE:AIG) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

AIG has been the topic of a number of other reports. Mizuho lowered their target price on shares of American International Group from $85.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Royal Bank Of Canada lifted their target price on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Wells Fargo & Company upped their price target on shares of American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, November 5th. Keefe, Bruyette & Woods decreased their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Finally, Piper Sandler increased their price target on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $87.84.

American International Group Stock Up 2.3%

Shares of NYSE AIG opened at $79.57 on Friday. The stock has a market cap of $41.61 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.85 and a beta of 0.48. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group has a 52-week low of $71.25 and a 52-week high of $87.29. The business has a 50-day moving average price of $77.51 and a 200 day moving average price of $76.98.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 EPS for the quarter, topping the consensus estimate of $1.88 by $0.18. American International Group had a return on equity of 10.73% and a net margin of 11.86%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. Equities research analysts forecast that American International Group will post 8.10 earnings per share for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, December 16th. American International Group’s dividend payout ratio (DPR) is presently 32.57%.

Insider Buying and Selling at American International Group

In other American International Group news, insider Peter Zaffino sold 200,000 shares of American International Group stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in American International Group in the 2nd quarter valued at $496,890,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in American International Group during the 2nd quarter worth $464,539,000. Wellington Management Group LLP lifted its stake in shares of American International Group by 6.9% in the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock worth $2,260,622,000 after acquiring an additional 1,961,270 shares during the period. Man Group plc lifted its stake in shares of American International Group by 104.6% in the 2nd quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock worth $269,230,000 after acquiring an additional 1,847,194 shares during the period. Finally, Bank of Nova Scotia lifted its stake in shares of American International Group by 131.5% in the 2nd quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider’s stock worth $87,607,000 after acquiring an additional 667,791 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets.

AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

AIG provides insurance through its subsidiaries and operates across a range of markets worldwide.