American International Group, Inc. (NYSE:AIG) Receives $77.35 Consensus Price Target from Brokerages

American International Group, Inc. (NYSE:AIG) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $79.06.

A number of brokerages recently issued reports on AIG. TD Cowen began coverage on American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price target on the stock. Wells Fargo & Company boosted their price target on American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. UBS Group boosted their price target on American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Citigroup boosted their price target on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Piper Sandler restated an “overweight” rating and set a $87.00 price target on shares of American International Group in a report on Monday, April 1st.

American International Group Stock Up 1.1 %

AIG opened at $73.82 on Friday. The company has a market cap of $50.27 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.04 and a beta of 1.03. The business’s 50-day moving average price is $73.96 and its 200-day moving average price is $68.27. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group has a 12 month low of $48.95 and a 12 month high of $78.95.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.59 by $0.20. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, equities analysts expect that American International Group will post 7.11 EPS for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.95%. American International Group’s dividend payout ratio is currently 28.86%.

Insider Transactions at American International Group

In related news, Director John C. Inglis purchased 659 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased 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 approximately $49,682.01. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in American International Group by 0.6% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock worth $1,694,000 after acquiring an additional 154 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in American International Group by 0.9% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock worth $1,257,000 after acquiring an additional 157 shares during the last quarter. Gotham Asset Management LLC raised its stake in American International Group by 3.0% during the 4th quarter. Gotham Asset Management LLC now owns 5,568 shares of the insurance provider’s stock valued at $377,000 after buying an additional 161 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in American International Group by 1.3% during the 3rd quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after buying an additional 162 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in American International Group by 3.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after buying an additional 167 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

About American International Group

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.