Citigroup Initiates Coverage on American International Group (NYSE:AIG)

Citigroup began coverage on shares of American International Group (NYSE:AIG) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $85.00 price objective on the insurance provider’s stock.

A number of other research firms have also recently issued reports on AIG. Keefe, Bruyette & Woods decreased their target price on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research note on Tuesday. Wells Fargo & Company boosted their target price on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Morgan Stanley boosted their target price on American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Cfra Research raised American International Group to a “moderate buy” rating in a research note on Monday. Finally, Barclays boosted their target price on American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

American International Group Stock Up 1.8%

Shares of American International Group stock opened at $79.91 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group has a 12 month low of $69.24 and a 12 month high of $88.07. The business has a fifty day simple moving average of $82.05 and a 200 day simple moving average of $81.25. The stock has a market cap of $44.27 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Research analysts predict that American International Group will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s dividend payout ratio is currently 34.09%.

Hedge Funds Weigh In On American International Group

Large investors have recently made changes to their positions in the company. Sachetta LLC increased its stake in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 249 shares during the period. GFG Capital LLC bought a new position in shares of American International Group during the second quarter worth approximately $33,000. Ameriflex Group Inc. bought a new position in shares of American International Group during the fourth quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of American International Group during the second quarter worth approximately $32,000. Finally, Barrett & Company Inc. bought a new position in shares of American International Group during the second quarter worth approximately $35,000. Institutional investors own 90.60% of the company’s stock.

About American International Group

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.