Brokerages Set American International Group, Inc. (NYSE:AIG) Target Price at $84.80

American International Group, Inc. (NYSE:AIG) has earned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $84.80.

AIG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Evercore ISI dropped their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, October 9th. Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price on the stock. Bank of America raised their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their price objective on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of American International Group

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after buying an additional 6,119,996 shares during the period. Prana Capital Management LP increased its holdings in American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after purchasing an additional 1,391,859 shares in the last quarter. Swedbank AB acquired a new stake in American International Group in the 1st quarter valued at $99,951,000. Diamond Hill Capital Management Inc. raised its position in American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of American International Group by 83.6% during the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after purchasing an additional 597,765 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Down 0.1 %

American International Group stock opened at $75.98 on Friday. The stock’s 50 day moving average price is $75.56 and its 200 day moving average price is $75.53. The company has a market cap of $47.39 billion, a PE ratio of -22.41, a price-to-earnings-growth ratio of 7.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group has a 1-year low of $64.54 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period in the previous year, the firm earned $1.61 EPS. On average, sell-side analysts predict that American International Group will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

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.