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

Shares of American International Group, Inc. (NYSE:AIG) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $88.19.

Several equities analysts have commented on AIG shares. Jefferies Financial Group lifted their target price on shares of American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $91.00 price target (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price target on American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Wells Fargo & Company upped their price objective on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on American International Group to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd.

American International Group Stock Performance

NYSE AIG opened at $77.41 on Thursday. The company has a fifty day moving average price of $83.12 and a 200-day moving average price of $80.96. The firm has a market cap of $44.61 billion, a price-to-earnings ratio of -29.10, a PEG ratio of 0.87 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. American International Group has a 1 year low of $69.00 and a 1 year high of $88.07.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.89 billion. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, equities research analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Friday, June 13th. This is a positive change from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio (DPR) is currently -67.67%.

Insider Buying and Selling at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president owned 21,400 shares of the company’s stock, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. GQG Partners LLC grew its holdings in American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after buying an additional 18,852,949 shares in the last quarter. Nuveen LLC purchased a new stake in shares of American International Group in the first quarter worth about $440,273,000. AQR Capital Management LLC boosted its position in shares of American International Group by 184.4% in the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock valued at $287,214,000 after acquiring an additional 2,162,545 shares during the period. Raymond James Financial Inc. grew its stake in American International Group by 151.6% during the first quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock valued at $285,682,000 after acquiring an additional 1,980,001 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after acquiring an additional 1,901,998 shares during the period. 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.