American International Group (NYSE:AIG) Price Target Raised to $87.00 at Citigroup

American International Group (NYSE:AIG) had its target price raised by Citigroup from $79.00 to $87.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other equities research analysts have also issued reports on the stock. UBS Group boosted their price target on shares of American International Group from $83.00 to $84.00 and gave the company a buy rating in a report on Thursday, February 22nd. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $82.00 to $86.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Bank of America lowered shares of American International Group from a buy rating to a neutral rating and upped their target price for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on shares of American International Group from $73.00 to $80.00 and gave the stock a neutral rating in a report on Monday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an equal weight rating in a report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $79.06.

American International Group Trading Up 0.6 %

Shares of American International Group stock opened at $72.99 on Tuesday. The firm has a market capitalization of $49.70 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. The company’s fifty day moving average price is $74.10 and its two-hundred day moving average price is $68.33. American International Group has a 52-week low of $48.95 and a 52-week high of $78.95.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.20. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. On average, analysts expect that American International Group will post 7.05 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.97%. American International Group’s payout ratio is 28.86%.

Insider Buying and Selling

In other news, Director John C. Inglis bought 659 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIG. Rise Advisors LLC bought a new stake in shares of American International Group in the first quarter valued at about $29,000. OFI Invest Asset Management bought a new stake in shares of American International Group in the third quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of American International Group in the third quarter valued at about $32,000. Neo Ivy Capital Management bought a new stake in shares of American International Group in the fourth quarter valued at about $40,000. Finally, Scarborough Advisors LLC acquired a new position in American International Group in the fourth quarter valued at about $40,000. 90.60% of the stock is owned by institutional investors.

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.