Deutsche Bank upgraded shares of American International Group (NYSE:AIG) from a sell rating to a hold rating in a research note published on Wednesday. The brokerage currently has $59.00 price target on the insurance provider’s stock, up from their prior price target of $58.00.
Other research analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed a buy rating and set a $73.00 price objective on shares of American International Group in a research report on Wednesday, September 6th. Morgan Stanley reaffirmed a buy rating on shares of American International Group in a research report on Tuesday, October 10th. Bank of America reduced their price objective on American International Group from $71.00 to $69.00 and set a buy rating for the company in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $75.00 price objective on shares of American International Group in a research report on Friday, October 6th. Finally, Wells Fargo & Company reissued a buy rating and set a $75.00 price target on shares of American International Group in a research report on Sunday, October 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $67.70.
American International Group (NYSE AIG) traded down $0.49 during mid-day trading on Wednesday, hitting $59.54. The stock had a trading volume of 2,456,006 shares, compared to its average volume of 5,880,774. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $53,515.05, a PE ratio of 23.72, a P/E/G ratio of 1.96 and a beta of 1.17. American International Group has a 52 week low of $57.90 and a 52 week high of $67.47.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.32 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.28 annualized dividend and a yield of 2.15%. American International Group’s dividend payout ratio is -51.00%.
A number of large investors have recently added to or reduced their stakes in AIG. Bank of Nova Scotia Trust Co. bought a new stake in American International Group in the third quarter valued at approximately $109,000. Peddock Capital Advisors LLC raised its stake in American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares during the period. Chicago Partners Investment Group LLC bought a new stake in American International Group in the third quarter valued at approximately $163,000. Rational Advisors LLC raised its stake in American International Group by 100.0% in the third quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock valued at $184,000 after buying an additional 1,500 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its stake in American International Group by 30.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock valued at $192,000 after buying an additional 716 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.
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About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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