Evercore ISI Boosts American International Group (NYSE:AIG) Price Target to $81.00

American International Group (NYSE:AIG) had its target price boosted by Evercore ISI from $80.00 to $81.00 in a research note issued to investors on Friday, Benzinga reports. Evercore ISI currently has an in-line rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on the company. BMO Capital Markets reduced their price objective on 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. UBS Group increased their price objective on shares of American International Group from $83.00 to $84.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Bank of America downgraded shares of American International Group from a buy rating to a neutral rating and boosted their target price for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. Morgan Stanley increased their price target on shares of American International Group from $72.00 to $79.00 and gave the company an equal weight rating in a report on Monday, April 15th. Finally, Royal Bank of Canada boosted their price objective on American International Group from $76.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $80.44.

American International Group Trading Up 0.5 %

AIG stock opened at $78.48 on Friday. The company has a market capitalization of $53.44 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.13 and a beta of 1.02. 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 has a 1-year low of $48.95 and a 1-year high of $79.70. The business has a 50 day simple moving average of $75.39 and a two-hundred day simple moving average of $69.56.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.68%. The company had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. During the same period in the previous year, the firm posted $1.63 EPS. Research analysts anticipate that American International Group will post 7.05 EPS for the current fiscal year.

American International Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s dividend payout ratio is currently 21.49%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. grew its position in shares of American International Group by 5.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 6,885 shares of the insurance provider’s stock worth $417,000 after buying an additional 340 shares during the last quarter. NorthRock Partners LLC grew its holdings in American International Group by 11.6% in the third quarter. NorthRock Partners LLC now owns 5,161 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 535 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in American International Group by 1.1% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 353,400 shares of the insurance provider’s stock worth $21,416,000 after purchasing an additional 3,900 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of American International Group by 9.6% during the 3rd quarter. Brown Advisory Inc. now owns 84,219 shares of the insurance provider’s stock valued at $5,104,000 after purchasing an additional 7,409 shares during the last quarter. Finally, Forsta AP Fonden boosted its position in shares of American International Group by 6.3% in the 3rd quarter. Forsta AP Fonden now owns 259,800 shares of the insurance provider’s stock worth $15,744,000 after purchasing an additional 15,500 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

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.