UBS upgraded shares of American International Group (NYSE:AIG) from a neutral rating to a buy rating in a research note released on Thursday morning, 247wallst.com reports. UBS currently has $63.00 price objective on the insurance provider’s stock, up from their prior price objective of $53.71.
AIG has been the subject of several other research reports. Wells Fargo set a $72.00 price objective on shares of American International Group and gave the company a buy rating in a research note on Monday, April 2nd. Zacks Investment Research lowered shares of American International Group from a hold rating to a sell rating in a research note on Monday, April 16th. Buckingham Research raised shares of American International Group from an underperform rating to a neutral rating and raised their price objective for the company from $52.00 to $55.00 in a research note on Friday, April 27th. Morgan Stanley lowered their price objective on shares of American International Group from $72.00 to $65.00 and set an overweight rating for the company in a research note on Friday, May 4th. Finally, Bank of America raised shares of American International Group from a neutral rating to a buy rating and lowered their price objective for the company from $59.40 to $58.28 in a research note on Friday, February 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. American International Group presently has a consensus rating of Hold and a consensus target price of $66.56.
Shares of AIG traded up $0.44 during trading on Thursday, reaching $55.23. 2,485,829 shares of the company traded hands, compared to its average volume of 7,045,139. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.27 and a quick ratio of 0.27. American International Group has a twelve month low of $52.91 and a twelve month high of $53.26. The stock has a market cap of $48.21 billion, a PE ratio of 23.01, a P/E/G ratio of 0.99 and a beta of 1.24.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.22). American International Group had a negative net margin of 13.03% and a positive return on equity of 2.65%. The business had revenue of $11.73 billion during the quarter, compared to analysts’ expectations of $11.60 billion. During the same period in the previous year, the business posted $1.36 EPS. sell-side analysts expect that American International Group will post 4.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Thursday, June 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.32%. American International Group’s dividend payout ratio is currently 53.33%.
In other news, Director Douglas M. Steenland purchased 4,800 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was bought at an average price of $52.06 per share, for a total transaction of $249,888.00. Following the completion of the purchase, the director now directly owns 3,510 shares of the company’s stock, valued at $182,730.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Don Cornwell sold 2,500 shares of American International Group stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $58.78, for a total transaction of $146,950.00. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of AIG. Stuart Chaussee & Associates Inc. acquired a new stake in American International Group during the fourth quarter worth approximately $134,000. Dragon Financial & Investment Group LLC acquired a new stake in American International Group during the fourth quarter worth approximately $201,000. Mycio Wealth Partners LLC acquired a new stake in American International Group during the fourth quarter worth approximately $202,000. CAPROCK Group Inc. acquired a new stake in American International Group during the fourth quarter worth approximately $212,000. Finally, Gould Asset Management LLC CA acquired a new stake in American International Group during the fourth quarter worth approximately $209,000. Institutional investors own 88.84% of the company’s stock.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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