American International Group (NYSE:AIG) had its price target raised by Wells Fargo & Co from $57.00 to $62.00 in a report released on Thursday, The Fly reports. Wells Fargo & Co currently has an outperform rating on the insurance provider’s stock.
AIG has been the subject of several other reports. ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods boosted their target price on American International Group from $58.00 to $62.00 and gave the company an outperform rating in a report on Sunday, July 7th. Royal Bank of Canada downgraded Zayo Group from an outperform rating to a sector perform rating and boosted their target price for the company from $33.00 to $35.00 in a report on Wednesday, May 8th. Morgan Stanley boosted their target price on Intact Financial from C$125.00 to C$128.00 in a report on Thursday, May 30th. Finally, Deutsche Bank downgraded American International Group from a buy rating to a hold rating and set a $53.35 target price for the company. in a report on Wednesday, June 5th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $55.86.
NYSE AIG opened at $56.27 on Thursday. The stock has a market capitalization of $48.25 billion, a P/E ratio of 48.09, a PEG ratio of 1.02 and a beta of 1.19. The firm has a 50 day moving average price of $53.35. American International Group has a 1-year low of $36.16 and a 1-year high of $56.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.27 and a current ratio of 0.27.
American International Group (NYSE:AIG) last released its earnings results on Monday, May 6th. The insurance provider reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.52. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.25 billion. During the same period in the previous year, the firm posted $1.04 EPS. Research analysts forecast that American International Group will post 4.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, June 13th. American International Group’s dividend payout ratio is presently 109.40%.
In related news, Director Therese M. Vaughan acquired 1,000 shares of American International Group stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $51.71 per share, with a total value of $51,710.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $51,710. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of AIG. Deprince Race & Zollo Inc. raised its stake in American International Group by 7.8% in the fourth quarter. Deprince Race & Zollo Inc. now owns 687,010 shares of the insurance provider’s stock valued at $27,075,000 after buying an additional 49,863 shares during the last quarter. First Trust Advisors LP grew its stake in American International Group by 77.2% during the 4th quarter. First Trust Advisors LP now owns 45,175 shares of the insurance provider’s stock worth $1,780,000 after purchasing an additional 19,682 shares in the last quarter. Kinneret Advisory LLC acquired a new position in American International Group during the 4th quarter worth $168,000. Geode Capital Management LLC grew its stake in American International Group by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 10,338,730 shares of the insurance provider’s stock worth $406,656,000 after purchasing an additional 655,288 shares in the last quarter. Finally, Clearbridge LLC grew its stake in American International Group by 24.4% during the 4th quarter. Clearbridge LLC now owns 275,815 shares of the insurance provider’s stock worth $10,870,000 after purchasing an additional 54,135 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.
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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