American International Group (NYSE:AIG) Price Target Increased to $81.00 by Analysts at Evercore ISI

American International Group (NYSE:AIG) had its target price boosted by Evercore ISI from $80.00 to $81.00 in a research note issued to investors on Friday, Benzinga reports. Evercore ISI currently has an in-line rating on the insurance provider’s stock.

A number of other equities analysts have also commented on AIG. Piper Sandler increased their price target on American International Group from $87.00 to $89.00 and gave the company an overweight rating in a research note on Friday, April 19th. UBS Group boosted their price target on shares of American International Group from $83.00 to $84.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $82.00 to $86.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their price objective on shares of American International Group from $74.00 to $80.00 and gave the stock an equal weight rating in a research note on Thursday, April 11th. Finally, Bank of America downgraded shares of American International Group from a buy rating to a neutral rating and increased their price target for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American International Group presently has a consensus rating of Moderate Buy and an average price target of $80.44.

American International Group Trading Up 0.5 %

Shares of AIG opened at $78.48 on Friday. The firm has a market cap of $53.44 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. American International Group has a 1 year low of $48.95 and a 1 year high of $79.70. The company has a 50 day simple moving average of $75.24 and a two-hundred day simple moving average of $69.36.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The company had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.68%. During the same period in the previous year, the firm posted $1.63 EPS. On average, equities analysts expect that American International Group will post 6.95 earnings per share for the current fiscal year.

American International Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is currently 21.49%.

Insider Buying and Selling

In other news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On American International Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Coronation Fund Managers Ltd. purchased a new position in shares of American International Group in the 1st quarter worth approximately $1,367,000. GSA Capital Partners LLP acquired a new position in shares of American International Group during the first quarter worth $2,265,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after purchasing an additional 136 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of American International Group by 9.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 102,483 shares of the insurance provider’s stock worth $8,011,000 after purchasing an additional 8,725 shares in the last quarter. Finally, Hosking Partners LLP grew its stake in American International Group by 5.0% during the 1st quarter. Hosking Partners LLP now owns 1,294,033 shares of the insurance provider’s stock worth $101,155,000 after buying an additional 61,139 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

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.