American International Group (NYSE:AIG) Reaches New 12-Month High – What’s Next?

American International Group, Inc. (NYSE:AIG)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $87.51 and last traded at $87.01, with a volume of 9834056 shares. The stock had previously closed at $83.62.

Analysts Set New Price Targets

AIG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. BMO Capital Markets boosted their target price on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday, March 13th. Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Performance

The stock has a 50 day moving average of $78.77 and a 200 day moving average of $76.05. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of -41.83, a P/E/G ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.84%. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

Insider Activity at American International Group

In related news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in shares of American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after buying an additional 482,724 shares in the last quarter. Wellington Management Group LLP raised its position in American International Group by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of American International Group by 14.0% during the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after purchasing an additional 1,284,354 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of American International Group in the fourth quarter valued at approximately $718,013,000. 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.