American International Group (NYSE:AIG) Price Target Raised to $79.00

American International Group (NYSE:AIG) had its target price hoisted by Morgan Stanley from $72.00 to $79.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Several other equities analysts also recently commented on AIG. BMO Capital Markets decreased their price target on shares of American International Group from $83.00 to $81.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Bank of America downgraded shares of American International Group from a buy rating to a neutral rating and upped their price target for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Evercore ISI upped their price target on shares of American International Group from $74.00 to $80.00 and gave the company an in-line rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their price target on shares of American International Group from $74.00 to $80.00 and gave the company an equal weight rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $79.06.

American International Group Price Performance

NYSE:AIG opened at $72.58 on Monday. American International Group has a one year low of $48.95 and a one year high of $78.95. The company has a market cap of $49.42 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.03 and a beta of 1.03. The firm’s fifty day moving average price is $74.01 and its two-hundred day moving average price is $68.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the company posted $1.36 earnings per share. American International Group’s revenue was up .0% compared to the same quarter last year. Equities analysts expect that American International Group will post 7.07 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.98%. American International Group’s dividend payout ratio (DPR) is currently 28.86%.

Insider Transactions at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American International Group news, Director John C. Inglis acquired 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Founders Financial Securities LLC increased its position in American International Group by 4.7% during the 1st quarter. Founders Financial Securities LLC now owns 8,870 shares of the insurance provider’s stock valued at $693,000 after purchasing an additional 396 shares during the period. Vicus Capital acquired a new stake in American International Group during the 1st quarter valued at approximately $290,000. First Bank & Trust increased its position in American International Group by 66.4% during the 1st quarter. First Bank & Trust now owns 5,300 shares of the insurance provider’s stock valued at $414,000 after purchasing an additional 2,114 shares during the period. Hodges Capital Management Inc. acquired a new stake in American International Group during the 1st quarter valued at approximately $211,000. Finally, Financial Management Professionals Inc. increased its position in American International Group by 16.3% during the 1st quarter. Financial Management Professionals Inc. now owns 5,057 shares of the insurance provider’s stock valued at $395,000 after purchasing an additional 710 shares during the period. Institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.