American International Group (NYSE:AIG) had its price objective reduced by Deutsche Bank from $60.00 to $58.00 in a research note issued to investors on Thursday morning. They currently have a hold rating on the insurance provider’s stock.
A number of other equities analysts also recently commented on the company. Credit Suisse Group set a $73.00 price target on American International Group and gave the stock a buy rating in a research note on Monday, January 22nd. Barclays reiterated an overweight rating and issued a $71.00 price target (up from $68.00) on shares of American International Group in a research note on Tuesday, February 20th. Bank of America upgraded American International Group from a neutral rating to a buy rating and decreased their price target for the stock from $59.40 to $58.28 in a research note on Friday, February 9th. Buckingham Research upgraded American International Group from an underperform rating to a neutral rating and lifted their price target for the stock from $52.00 to $55.00 in a research note on Friday, April 27th. Finally, Zacks Investment Research downgraded American International Group from a hold rating to a sell rating in a research note on Monday, April 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $66.56.
Shares of NYSE AIG opened at $52.84 on Thursday. American International Group has a 1 year low of $49.57 and a 1 year high of $67.30. The stock has a market cap of $47,686.46, a PE ratio of 22.02, a price-to-earnings-growth ratio of 0.92 and a beta of 1.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.25 and a current ratio of 0.25.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.42%. American International Group’s payout ratio is currently 53.33%.
In other American International Group news, insider Claudine Macartney sold 2,052 shares of American International Group stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $59.61, for a total value of $122,319.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Don Cornwell sold 2,500 shares of American International Group stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $58.78, for a total value of $146,950.00. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Markston International LLC boosted its stake in American International Group by 0.5% in the fourth quarter. Markston International LLC now owns 181,895 shares of the insurance provider’s stock valued at $10,837,000 after acquiring an additional 834 shares during the period. Quadrant Capital Management LLC boosted its stake in American International Group by 1.9% in the fourth quarter. Quadrant Capital Management LLC now owns 45,011 shares of the insurance provider’s stock valued at $2,682,000 after acquiring an additional 850 shares during the period. M Holdings Securities Inc. boosted its stake in American International Group by 14.8% in the fourth quarter. M Holdings Securities Inc. now owns 6,770 shares of the insurance provider’s stock valued at $389,000 after acquiring an additional 872 shares during the period. MML Investors Services LLC boosted its stake in American International Group by 11.7% in the fourth quarter. MML Investors Services LLC now owns 10,413 shares of the insurance provider’s stock valued at $620,000 after acquiring an additional 1,091 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in American International Group by 6.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 22,695 shares of the insurance provider’s stock valued at $1,352,000 after acquiring an additional 1,399 shares during the period. Institutional investors own 87.29% of the company’s stock.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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