American International Group Inc (NYSE:AIG)‘s stock had its “buy” rating reissued by analysts at Royal Bank of Canada in a note issued to investors on Monday. They currently have a $71.00 target price on the insurance provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 13.75% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. Credit Suisse Group AG set a $61.00 price target on American International Group and gave the company a “hold” rating in a report on Sunday, November 20th. BMO Capital Markets raised American International Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $64.00 to $75.00 in a report on Monday, December 12th. Deutsche Bank AG cut American International Group from a “hold” rating to a “sell” rating and cut their price target for the company from $6.00 to $5.00 in a report on Monday, March 13th. Barclays PLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of American International Group in a report on Monday, February 20th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $69.00 price target on shares of American International Group in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $64.88.
American International Group (NYSE:AIG) traded down 0.08% during mid-day trading on Monday, reaching $62.37. 4,647,268 shares of the company traded hands. American International Group has a 52-week low of $48.41 and a 52-week high of $67.47. The stock has a 50 day moving average price of $63.97 and a 200-day moving average price of $62.84. The company’s market capitalization is $61.10 billion.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 14th. The insurance provider reported ($2.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by $3.90. American International Group had a net margin of 0.66% and a return on equity of 1.82%. During the same period in the prior year, the firm earned ($1.10) EPS. Analysts expect that American International Group will post $4.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a $1.28 annualized dividend and a dividend yield of 2.05%. American International Group’s payout ratio is currently 290.92%.
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In other news, insider Philip Fasano sold 6,000 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $63.59, for a total transaction of $381,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.04% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Israel Discount Bank of New York GFN bought a new position in American International Group during the fourth quarter valued at about $148,000. Norges Bank bought a new position in American International Group during the fourth quarter valued at about $531,208,000. SNS Financial Group LLC bought a new position in American International Group during the fourth quarter valued at about $222,000. CMH Wealth Management LLC bought a new position in American International Group during the fourth quarter valued at about $2,246,000. Finally, I.G. Investment Management LTD. raised its position in American International Group by 14.3% in the fourth quarter. I.G. Investment Management LTD. now owns 2,015,236 shares of the insurance provider’s stock valued at $131,615,000 after buying an additional 252,198 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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