American International Group (NYSE:AIG) Price Target Raised to $85.00 at Morgan Stanley

American International Group (NYSE:AIG) had its price objective raised by Morgan Stanley from $81.00 to $85.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

Several other equities analysts have also commented on AIG. Barclays raised their price target on American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $91.00 price objective (up previously from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Jefferies Financial Group raised their price target on American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft lifted their target price on American International Group to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

American International Group Stock Down 0.0%

Shares of AIG opened at $84.32 on Monday. The company has a market cap of $48.60 billion, a PE ratio of -40.54, a P/E/G ratio of 1.01 and a beta of 0.69. The business has a fifty day moving average of $82.55 and a 200 day moving average of $77.80. American International Group has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same period last year, the company earned $1.25 earnings per share. On average, sell-side analysts expect that American International Group will post 6.24 EPS for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. American International Group’s payout ratio is -67.67%.

Insider Buying and Selling

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the sale, the executive vice president now directly owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Institutional Trading of American International Group

Several large investors have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC grew its holdings in shares of American International Group by 35.6% during the 1st quarter. SageView Advisory Group LLC now owns 9,710 shares of the insurance provider’s stock worth $844,000 after purchasing an additional 2,548 shares during the period. SCS Capital Management LLC acquired a new stake in American International Group in the 1st quarter valued at about $227,000. MBB Public Markets I LLC acquired a new stake in American International Group in the 1st quarter valued at about $328,000. Ascent Group LLC raised its position in American International Group by 26.3% in the 1st quarter. Ascent Group LLC now owns 10,438 shares of the insurance provider’s stock valued at $907,000 after purchasing an additional 2,173 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its position in American International Group by 59.7% in the 1st quarter. Great Lakes Advisors LLC now owns 11,818 shares of the insurance provider’s stock valued at $1,027,000 after purchasing an additional 4,420 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Company Profile

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.