American International Group (NYSE:AIG) Sets New 12-Month High – Still a Buy?

American International Group, Inc. (NYSE:AIG)’s share price hit a new 52-week high on Monday . The company traded as high as $83.92 and last traded at $84.08, with a volume of 173524 shares changing hands. The stock had previously closed at $82.73.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price objective on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price target on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.31.

American International Group Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $49.85 billion, a PE ratio of -40.39, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The business has a fifty day moving average of $76.71 and a 200-day moving average of $75.41.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Equities research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.90%. American International Group’s payout ratio is -76.92%.

Insider Activity at American International Group

In related news, Director John G. Rice bought 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Trading of American International Group

A number of hedge funds have recently bought and sold shares of AIG. Norges Bank purchased a new stake in American International Group during the fourth quarter worth $718,013,000. Wellington Management Group LLP lifted its holdings in American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after buying an additional 6,119,996 shares during the period. Balyasny Asset Management L.P. purchased a new stake in American International Group during the fourth quarter worth $135,325,000. Prana Capital Management LP lifted its holdings in American International Group by 280.5% during the third quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after buying an additional 1,391,859 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in American International Group by 2,134.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider’s stock worth $103,885,000 after buying an additional 1,363,108 shares during the period. Hedge funds and other 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.