American International Group (NYSE:AIG) Price Target Raised to $98.00

American International Group (NYSE:AIG) had its price target increased by Barclays from $90.00 to $98.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the insurance provider’s stock.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group increased their price target on American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, March 5th. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Morgan Stanley raised their price target on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, UBS Group reduced their price target on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.12.

American International Group Trading Down 8.5 %

Shares of NYSE:AIG opened at $78.83 on Wednesday. American International Group has a one year low of $69.00 and a one year high of $88.07. The stock has a market capitalization of $46.77 billion, a PE ratio of -37.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day moving average price is $79.60 and its two-hundred day moving average price is $76.34.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, equities analysts forecast that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

Insider Transactions at American International Group

In other American International Group news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

A number of hedge funds have recently made changes to their positions in AIG. Capital Research Global Investors lifted its stake in shares of American International Group by 1.4% in 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 boosted 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 worth $1,951,427,000 after purchasing an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares during the period. Franklin Resources Inc. raised its holdings in American International Group by 14.0% in the 4th 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 period. Finally, Norges Bank purchased a new position in shares of American International Group during the 4th quarter valued at about $718,013,000. 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.