American International Group, Inc. (NYSE:AIG) Receives Average Recommendation of “Moderate Buy” from Analysts

American International Group, Inc. (NYSE:AIG) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $80.44.

AIG has been the topic of a number of recent research reports. UBS Group lifted their target price on American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada increased their target price on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Evercore ISI lifted their price target on shares of American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a research note on Friday. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. Finally, Piper Sandler lifted their target price on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th.

Insider Buying and Selling

In related news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Peter Zaffino sold 333,000 shares of the business’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 $38,346,215.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John C. Inglis bought 659 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased 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 directly owns 659 shares in the company, valued at $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

Several institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in shares of American International Group by 18.7% during the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock valued at $138,014,000 after acquiring an additional 319,948 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of American International Group by 22.6% in the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after buying an additional 77,874 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in shares of American International Group during the 4th quarter valued at $260,000. Sequoia Financial Advisors LLC lifted its holdings in shares of American International Group by 121.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after acquiring an additional 21,279 shares during the last quarter. Finally, abrdn plc grew its position in American International Group by 19.6% in the fourth quarter. abrdn plc now owns 598,143 shares of the insurance provider’s stock worth $40,524,000 after acquiring an additional 98,143 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 1.9 %

American International Group stock opened at $79.97 on Tuesday. American International Group has a twelve month low of $51.86 and a twelve month high of $80.13. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $75.56 and a 200-day moving average of $69.69. The stock has a market capitalization of $53.07 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.11 and a beta of 1.02.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping 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 10.54%. The firm had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same period in the prior year, the business earned $1.63 EPS. On average, equities research analysts anticipate that American International Group will post 7.05 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is currently 21.49%.

American International Group announced that its Board of Directors has approved a share buyback plan on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.