Evercore ISI Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price target raised by Evercore ISI from $81.00 to $89.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the insurance provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their target price 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. UBS Group dropped 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 report on Tuesday, February 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 price target (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

American International Group Trading Down 0.3 %

Shares of NYSE:AIG opened at $86.69 on Tuesday. The business’s 50 day simple moving average is $79.00 and its 200 day simple moving average is $76.15. American International Group has a 1 year low of $69.00 and a 1 year high of $87.51. 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 company has a market capitalization of $51.43 billion, a P/E ratio of -41.68, a P/E/G ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 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%. On average, research analysts anticipate that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

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

Insiders Place Their Bets

In other news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $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 this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in American International Group by 5.8% in the 3rd quarter. Captrust Financial Advisors now owns 44,908 shares of the insurance provider’s stock valued at $3,289,000 after purchasing an additional 2,469 shares during the period. Edgestream Partners L.P. acquired a new position in shares of American International Group during the third quarter valued at about $295,000. Benjamin Edwards Inc. bought a new stake in shares of American International Group during the third quarter worth about $293,000. Hilltop Holdings Inc. acquired a new stake in shares of American International Group in the 3rd quarter worth about $230,000. Finally, HighTower Advisors LLC lifted its position in American International Group by 25.8% in the 3rd quarter. HighTower Advisors LLC now owns 92,879 shares of the insurance provider’s stock valued at $6,807,000 after acquiring an additional 19,074 shares in the last quarter. Institutional investors and hedge funds 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.