American International Group (NYSE:AIG) had its price target cut by Morgan Stanley from $72.00 to $65.00 in a research note published on Friday. They currently have an overweight rating on the insurance provider’s stock.
Other equities analysts have also issued research reports about the company. Bank of America raised American International Group from a neutral rating to a buy rating and lowered their price objective for the stock from $59.40 to $58.28 in a research note on Friday, February 9th. Credit Suisse Group set a $73.00 price objective on American International Group and gave the stock a buy rating in a research note on Monday, January 22nd. Wells Fargo set a $72.00 price objective on American International Group and gave the stock a buy rating in a research note on Monday, April 2nd. Deutsche Bank lowered their price objective on American International Group from $60.00 to $58.00 and set a hold rating on the stock in a research note on Thursday. Finally, Buckingham Research upgraded American International Group from an underperform rating to a neutral rating and lifted their target price for the company from $52.00 to $55.00 in a research report on Friday, April 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $66.56.
NYSE AIG opened at $52.84 on Friday. The firm has a market cap of $47,686.46, a price-to-earnings ratio of 22.02, a P/E/G ratio of 0.92 and a beta of 1.24. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.48. American International Group has a fifty-two week low of $49.57 and a fifty-two week high of $67.30.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th will be given a $0.32 dividend. The ex-dividend date is Wednesday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.42%. American International Group’s dividend payout ratio is currently 53.33%.
In related news, insider Claudine Macartney sold 2,052 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $59.61, for a total value of $122,319.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director W Don Cornwell sold 2,500 shares of the business’s stock in a transaction 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. 0.05% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its holdings in shares of American International Group by 334.7% in the 4th quarter. State of Alaska Department of Revenue now owns 97,947 shares of the insurance provider’s stock valued at $5,834,000 after buying an additional 75,415 shares during the period. Patriot Wealth Management Inc. raised its holdings in shares of American International Group by 1.4% in the 4th quarter. Patriot Wealth Management Inc. now owns 142,495 shares of the insurance provider’s stock valued at $8,490,000 after buying an additional 1,989 shares during the period. PGGM Investments raised its holdings in shares of American International Group by 50.3% in the 4th quarter. PGGM Investments now owns 1,367,500 shares of the insurance provider’s stock valued at $81,476,000 after buying an additional 457,833 shares during the period. TCW Group Inc. raised its holdings in shares of American International Group by 122.1% in the 4th quarter. TCW Group Inc. now owns 901,978 shares of the insurance provider’s stock valued at $53,740,000 after buying an additional 495,918 shares during the period. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of American International Group in the 4th quarter valued at $16,572,000. Hedge funds and other 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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