American International Group, Inc. (NYSE:AIG) Stock Has Average Price Target of $87.68

Shares of American International Group, Inc. (NYSE:AIG) have been given an average rating of “Hold” by the eighteen analysts that are covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $87.68.

AIG has been the topic of a number of recent research reports. Mizuho cut their target price on shares of American International Group from $85.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. UBS Group upped their target price on shares of American International Group from $98.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Piper Sandler increased their target price on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Cantor Fitzgerald lowered their price target on American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. boosted their price target on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th.

American International Group Stock Performance

NYSE:AIG opened at $81.90 on Friday. The company’s 50-day moving average price is $77.07 and its 200-day moving average price is $76.75. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $42.82 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.85 and a beta of 0.52. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%. During the same period in the prior year, the firm posted $1.81 earnings per share. On average, sell-side analysts forecast that American International Group will post 8.07 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business 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. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. American International Group’s dividend payout ratio is presently 36.56%.

Insider Buying and Selling

In related news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On American International Group

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in American International Group by 6.9% during the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after buying an additional 1,961,270 shares in the last quarter. State Street Corp boosted its position in shares of American International Group by 0.8% during the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock valued at $1,871,852,000 after purchasing an additional 196,969 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after purchasing an additional 474,035 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of American International Group in the 2nd quarter worth approximately $464,539,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of American International Group by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock worth $462,147,000 after purchasing an additional 303,201 shares during the last quarter. Hedge funds and other 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 that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.