American International Group (NYSE:AIG) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reissued their overweight rating on shares of American International Group (NYSE:AIG) in a research note released on Monday morning, Benzinga reports. They currently have a $87.00 price objective on the insurance provider’s stock.

Several other research analysts also recently commented on the stock. TD Cowen began coverage on shares of American International Group in a report on Wednesday, January 10th. They set a market perform rating and a $78.00 price objective for the company. Wells Fargo & Company raised their price target on American International Group from $66.00 to $74.00 and gave the company an equal weight rating in a report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on American International Group from $83.00 to $81.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Bank of America lowered shares of American International Group from a buy rating to a neutral rating and raised their target price for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Finally, UBS Group increased their price objective on shares of American International Group from $83.00 to $84.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $74.47.

American International Group Price Performance

Shares of NYSE:AIG opened at $77.81 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. American International Group has a 1-year low of $48.91 and a 1-year high of $78.95. The company has a market capitalization of $52.98 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.09 and a beta of 1.03. The firm’s 50 day simple moving average is $72.71 and its two-hundred day simple moving average is $67.28.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts expect that American International Group will post 7.1 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.85%. American International Group’s dividend payout ratio is presently 28.86%.

Insider Buying and Selling

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director John C. Inglis acquired 659 shares of the stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the transaction, the director now directly owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American International Group

Large investors have recently modified their holdings of the business. OFI Invest Asset Management bought a new stake in shares of American International Group in the 3rd quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of American International Group in the 3rd quarter valued at about $32,000. Neo Ivy Capital Management bought a new stake in shares of American International Group in the 4th quarter valued at about $40,000. Scarborough Advisors LLC bought a new stake in shares of American International Group in the 4th quarter valued at about $40,000. Finally, CNB Bank bought a new stake in shares of American International Group in the 3rd quarter valued at about $42,000. Institutional investors own 90.60% of the company’s stock.

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.