American International Group (NYSE:AIG) Price Target Raised to $77.00

American International Group (NYSE:AIG) had its target price hoisted by Wells Fargo & Company from $76.00 to $77.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the company. Bank of America boosted their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. UBS Group lifted their price target on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group increased their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, American International Group has a consensus rating of “Hold” and an average price target of $84.13.

American International Group Trading Up 2.1 %

AIG opened at $74.62 on Tuesday. American International Group has a twelve month low of $66.06 and a twelve month high of $80.83. The company has a fifty day moving average of $73.94 and a 200-day moving average of $74.67. The stock has a market cap of $46.54 billion, a PE ratio of -22.01, a price-to-earnings-growth ratio of 5.51 and a beta of 1.06. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period last year, the business posted $1.61 EPS. On average, sell-side analysts predict that American International Group will post 4.91 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were issued a $0.40 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. American International Group’s dividend payout ratio is currently -47.20%.

Institutional Investors Weigh In On American International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in shares of American International Group in the third quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in American International Group in the 3rd quarter valued at $29,000. Fortitude Family Office LLC increased its position in shares of American International Group by 58.3% during the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 210 shares during the last quarter. Continuum Advisory LLC increased its position in shares of American International Group by 60.7% during the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 207 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of American International Group during the 3rd quarter worth $46,000. 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.