American International Group (NYSE:AIG) Price Target Raised to $87.00 at The Goldman Sachs Group

American International Group (NYSE:AIG) had its price target upped by The Goldman Sachs Group from $79.00 to $87.00 in a research note issued to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the insurance provider’s stock.

A number of other brokerages also recently weighed in on AIG. UBS Group decreased their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. BMO Capital Markets raised their price objective on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, March 13th. Morgan Stanley boosted their target price on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. reduced their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Finally, HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. Eight research 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

American International Group Price Performance

AIG opened at $86.69 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a market cap of $51.43 billion, a price-to-earnings ratio of -41.68, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The stock has a fifty day simple moving average of $79.00 and a two-hundred day simple moving average of $76.15. American International Group has a 12-month low of $69.00 and a 12-month high of $87.51.

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

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.85%. American International Group’s dividend payout ratio (DPR) is -76.92%.

Insider Buying and Selling

In other news, Director John G. Rice bought 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American International Group

A number of large investors have recently made changes to their positions in AIG. Duncker Streett & Co. Inc. purchased a new position in shares of American International Group in the fourth quarter worth approximately $25,000. Asset Planning Inc purchased a new position in shares of American International Group during the 4th quarter worth $26,000. Ameriflex Group Inc. bought a new stake in shares of American International Group during the 4th quarter valued at $29,000. BankPlus Trust Department purchased a new stake in shares of American International Group in the 4th quarter worth $36,000. Finally, Continuum Advisory LLC raised its holdings in American International Group by 60.7% in the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares during the period. 90.60% of the stock is currently owned by institutional investors.

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.