BMO Capital Markets Raises American International Group (NYSE:AIG) Price Target to $90.00

American International Group (NYSE:AIG) had its target price upped by BMO Capital Markets from $87.00 to $90.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

A number of other research firms have also recently issued reports on AIG. TD Cowen decreased their price target on shares of American International Group from $83.00 to $80.00 and set a hold rating for the company in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on American International Group from $80.00 to $93.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods dropped their target price on American International Group from $96.00 to $90.00 and set an outperform rating on the stock in a research report on Monday, August 12th. Bank of America raised their price target on shares of American International Group from $81.00 to $82.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Finally, Barclays began coverage on shares of American International Group in a report on Wednesday, September 4th. They issued an overweight rating and a $90.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $84.27.

American International Group Price Performance

NYSE AIG opened at $73.64 on Friday. The firm’s fifty day simple moving average is $73.87 and its two-hundred day simple moving average is $75.54. The firm has a market capitalization of $48.87 billion, a P/E ratio of 11.03, a P/E/G ratio of 3.70 and a beta of 1.06. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group has a 12-month low of $58.69 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 EPS. Analysts forecast that American International Group will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.40 per share. The ex-dividend date was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. American International Group’s dividend payout ratio is presently 23.88%.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Several institutional investors and hedge funds have recently modified their holdings of AIG. Miracle Mile Advisors LLC raised its position in shares of American International Group by 9.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 3,750 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 318 shares in the last quarter. Everpar Advisors LLC boosted its holdings in shares of American International Group by 80.2% during the third quarter. Everpar Advisors LLC now owns 8,087 shares of the insurance provider’s stock valued at $592,000 after acquiring an additional 3,599 shares during the period. Diversified Trust Co increased its holdings in shares of American International Group by 969.5% in the 3rd quarter. Diversified Trust Co now owns 35,765 shares of the insurance provider’s stock worth $2,619,000 after acquiring an additional 32,421 shares during the period. GAMMA Investing LLC boosted its position in shares of American International Group by 15.9% during the third quarter. GAMMA Investing LLC now owns 10,168 shares of the insurance provider’s stock worth $745,000 after buying an additional 1,398 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in American International Group by 1.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 160,357 shares of the insurance provider’s stock worth $11,743,000 after buying an additional 1,951 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.