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A number of other research analysts have also recently issued reports on AIG. Royal Bank of Canada lifted their price objective on shares of American International Group to $68.00 and gave the company an outperform rating in a report on Friday, August 9th. Zacks Investment Research cut shares of American International Group from a buy rating to a hold rating and set a $57.00 price objective for the company. in a report on Thursday, August 8th. Wells Fargo & Co reiterated a buy rating and set a $64.00 price objective on shares of American International Group in a report on Friday, November 1st. Barclays raised their price target on shares of American International Group from $65.00 to $67.00 and gave the company an overweight rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI assumed coverage on shares of American International Group in a research report on Thursday, October 17th. They set an in-line rating and a $54.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $59.20.
Shares of NYSE AIG traded up $0.32 during mid-day trading on Thursday, reaching $55.91. 2,669,400 shares of the company’s stock traded hands, compared to its average volume of 4,564,101. The stock has a market cap of $47.68 billion, a P/E ratio of 47.79, a PEG ratio of 1.16 and a beta of 1.19. The business has a 50-day simple moving average of $54.51 and a 200 day simple moving average of $53.56. American International Group has a 1-year low of $36.16 and a 1-year high of $58.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.28.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, November 1st. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.43). The business had revenue of $11.99 billion for the quarter, compared to analyst estimates of $12.03 billion. American International Group had a net margin of 3.56% and a return on equity of 4.17%. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Equities research analysts anticipate that American International Group will post 4.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.29%. American International Group’s payout ratio is currently 109.40%.
In related news, CEO Seraina Macia sold 7,550 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $56.00, for a total transaction of $422,800.00. Following the transaction, the chief executive officer now directly owns 11,055 shares of the company’s stock, valued at $619,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Pillar Pacific Capital Management LLC bought a new stake in American International Group in the second quarter worth about $240,000. Charles Schwab Investment Management Inc. raised its position in shares of American International Group by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,959,749 shares of the insurance provider’s stock valued at $264,256,000 after purchasing an additional 58,996 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of American International Group by 42.3% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 20,057 shares of the insurance provider’s stock valued at $1,066,000 after purchasing an additional 5,960 shares during the period. First Republic Investment Management Inc. raised its position in shares of American International Group by 1.2% in the second quarter. First Republic Investment Management Inc. now owns 250,317 shares of the insurance provider’s stock valued at $13,337,000 after purchasing an additional 2,897 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of American International Group by 8.5% in the second quarter. Janus Henderson Group PLC now owns 291,972 shares of the insurance provider’s stock valued at $15,554,000 after purchasing an additional 22,980 shares during the period. 91.18% of the stock is currently owned by institutional investors and hedge funds.
American International Group Company Profile
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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