American International Group, Inc. (NYSE:AIG) has received an average recommendation of “Hold” from the nineteen research firms that are currently covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.79.
Several research firms have weighed in on AIG. Morgan Stanley dropped their price target on American International Group from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Bank of America upgraded American International Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $38.00 in a research report on Thursday, August 6th. Barclays began coverage on American International Group in a research report on Tuesday, November 17th. They set an “equal weight” rating and a $39.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their target price on American International Group from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, November 11th. Finally, ValuEngine upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Tuesday, November 10th.
AIG stock opened at $40.12 on Friday. American International Group has a 1-year low of $16.07 and a 1-year high of $56.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of -6.89, a PEG ratio of 1.63 and a beta of 1.28. The business has a 50 day simple moving average of $33.64 and a two-hundred day simple moving average of $31.00.
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American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.19. American International Group had a positive return on equity of 3.62% and a negative net margin of 10.82%. The business had revenue of $11.34 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the company posted $0.72 EPS. Sell-side analysts anticipate that American International Group will post 2.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.28 annualized dividend and a yield of 3.19%. American International Group’s payout ratio is presently 27.89%.
In other American International Group news, major shareholder International Group I. American bought 625,000 shares of American International Group stock in a transaction on Friday, October 30th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $10,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elias F. Habayeb sold 8,500 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $29.40, for a total value of $249,900.00. Following the completion of the sale, the chief financial officer now owns 5,745 shares in the company, valued at approximately $168,903. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Paces Ferry Wealth Advisors LLC purchased a new stake in American International Group in the third quarter worth $199,000. Jeppson Wealth Management LLC purchased a new stake in American International Group in the third quarter worth $28,000. Chiron Capital Management LLC purchased a new stake in American International Group in the third quarter worth $774,000. Rehmann Capital Advisory Group purchased a new stake in American International Group in the third quarter worth $226,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of American International Group by 1.3% during the third quarter. Public Employees Retirement System of Ohio now owns 491,930 shares of the insurance provider’s stock valued at $13,543,000 after buying an additional 6,232 shares during the period. Institutional investors and hedge funds own 79.97% of the company’s stock.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company’s General Insurance segment offers general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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