American International Group (NYSE:AIG) Price Target Raised to $83.00

American International Group (NYSE:AIG) had its price target hoisted by Wells Fargo & Company from $82.00 to $83.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

Several other equities analysts also recently commented on AIG. The Goldman Sachs Group boosted their price objective on American International Group from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Morgan Stanley decreased their target price on American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Cfra Research upgraded American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Citigroup initiated coverage on shares of American International Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of American International Group in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

American International Group Stock Performance

AIG opened at $77.68 on Wednesday. The company has a 50 day simple moving average of $78.78 and a two-hundred day simple moving average of $81.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $41.91 billion, a P/E ratio of 14.71, a PEG ratio of 0.77 and a beta of 0.73. American International Group has a 1-year low of $69.24 and a 1-year high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.57 by $0.63. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the firm earned $1.23 EPS. Equities analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s payout ratio is presently 32.73%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Westfuller Advisors LLC purchased a new stake in American International Group during the third quarter valued at $26,000. Atlantic Union Bankshares Corp increased its holdings in shares of American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares during the last quarter. Eastern Bank raised its position in shares of American International Group by 2,473.3% during the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after buying an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of American International Group during the 2nd quarter valued at about $32,000. Finally, Sachetta LLC lifted its holdings in shares of American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 249 shares during the last quarter. 90.60% of the stock is 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.