American International Group (NYSE:AIG) Rating Increased to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of American International Group (NYSE:AIG) from a neutral rating to a buy rating in a report released on Thursday morning, Marketbeat Ratings reports. They currently have $90.00 target price on the insurance provider’s stock.

AIG has been the topic of several other reports. Barclays decreased their price objective on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Royal Bank Of Canada initiated coverage on American International Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price target for the company. Wells Fargo & Company increased their price objective on American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Mizuho lifted their price objective on shares of American International Group from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, Piper Sandler cut their price target on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, American International Group has an average rating of “Hold” and an average price target of $87.95.

American International Group Stock Up 2.2%

Shares of AIG opened at $80.05 on Thursday. The business’s fifty day moving average price is $77.69 and its two-hundred day moving average price is $78.96. The firm has a market capitalization of $42.95 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.60 and a beta of 0.58. American International Group has a 52 week low of $71.25 and a 52 week high of $88.07. 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 released its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same quarter in the previous year, the business earned $1.30 EPS. On average, analysts predict that American International Group will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, March 16th. American International Group’s dividend payout ratio (DPR) is presently 33.21%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Pure Financial Advisors LLC bought a new position in shares of American International Group during the fourth quarter valued at $257,000. Rehmann Capital Advisory Group acquired a new position in American International Group during the 4th quarter valued at about $202,000. SHP Wealth Management purchased a new position in shares of American International Group during the fourth quarter valued at approximately $34,000. Bank of Hawaii grew its stake in shares of American International Group by 2.7% in the 4th quarter. Bank of Hawaii now owns 16,041 shares of the insurance provider’s stock worth $1,372,000 after acquiring an additional 418 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in American International Group by 57.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,438 shares of the insurance provider’s stock valued at $123,000 after buying an additional 526 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.