American International Group, Inc. (NYSE:AIG) Stock Has Average Target Price of $88.16 According to Brokerages

Shares of American International Group, Inc. (NYSE:AIG) have received an average rating of “Hold” from the eighteen ratings firms that are covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $88.16.

Several research firms have recently weighed in on AIG. Cantor Fitzgerald decreased their price objective on American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, August 17th. The Goldman Sachs Group boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Morgan Stanley lowered their price target on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Wells Fargo & Company decreased their price objective on American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Finally, Argus reissued a “buy” rating and set a $90.00 price target on shares of American International Group in a research report on Wednesday, September 2nd.

American International Group Price Performance

Shares of AIG opened at $75.10 on Tuesday. The stock has a market cap of $39.27 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. American International Group has a 1 year low of $71.25 and a 1 year high of $87.29. The stock’s 50-day moving average price is $76.45 and its two-hundred day moving average price is $76.42. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period last year, the business posted $1.81 earnings per share. On average, equities analysts predict that American International Group will post 8.04 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio (DPR) is 36.56%.

Insider Activity

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

Institutional Investors Weigh In On American International Group

Institutional investors have recently modified their holdings of the business. Modus Advisors LLC bought a new stake in shares of American International Group during the 4th quarter valued at $27,000. First Bancorp Inc ME acquired a new stake in American International Group during the second quarter worth about $30,000. SHP Wealth Management bought a new position in American International Group in the 4th quarter valued at about $34,000. Fiduciary Financial Advisors acquired a new position in shares of American International Group in the 2nd quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co raised its position in shares of American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after buying an additional 151 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.