American International Group, Inc. (NYSE:AIG) Receives Average Recommendation of “Hold” from Brokerages

American International Group, Inc. (NYSE:AIG) has been given an average recommendation of “Hold” by the twenty brokerages that are presently covering the company, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $88.3684.

Several research analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Cantor Fitzgerald reduced their price objective on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Mizuho upped their target price on shares of American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Argus reiterated a “buy” rating and set a $90.00 price target on shares of American International Group in a research note on Wednesday, September 2nd. Finally, UBS Group boosted their price objective on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th.

Insider Transactions at American International Group

In related news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the sale, the insider directly owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On American International Group

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in American International Group by 6,834.8% in the 2nd quarter. California State Teachers Retirement System now owns 65,677,774 shares of the insurance provider’s stock valued at $4,894,964,000 after buying an additional 64,730,704 shares during the last quarter. Norges Bank purchased a new position in shares of American International Group in the 4th quarter worth approximately $636,782,000. Bank of New York Mellon Corp bought a new position in shares of American International Group in the second quarter valued at approximately $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of American International Group in the second quarter valued at approximately $464,539,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Up 0.1%

Shares of American International Group stock opened at $75.08 on Friday. The stock has a market capitalization of $39.26 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.84 and a beta of 0.50. American International Group has a 52 week low of $71.25 and a 52 week high of $87.29. The stock has a 50 day moving average price of $77.87 and a two-hundred day moving average price of $76.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last issued its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. As a group, equities analysts anticipate that American International Group will post 8.02 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. American International Group’s payout ratio is presently 36.56%.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.