Piper Sandler Boosts American International Group (NYSE:AIG) Price Target to $89.00

American International Group (NYSE:AIG) had its price objective upped by Piper Sandler from $87.00 to $89.00 in a research report sent to investors on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the stock. HSBC began coverage on shares of American International Group in a research note on Thursday, December 28th. They set a buy rating and a $86.00 price target for the company. BMO Capital Markets dropped their price objective on shares of American International Group from $83.00 to $81.00 and set an outperform rating for the company in a report on Thursday, February 15th. Wells Fargo & Company raised their price objective 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. JPMorgan Chase & Co. raised their price objective 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, TD Cowen began coverage on shares of American International Group in a report on Wednesday, January 10th. They set a market perform rating and a $78.00 price objective for the company. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American International Group presently has an average rating of Moderate Buy and a consensus price target of $80.38.

American International Group Stock Up 1.0 %

Shares of AIG opened at $74.96 on Friday. The stock has a market cap of $51.04 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.07 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group has a 12 month low of $48.95 and a 12 month high of $78.95. The company has a 50-day moving average price of $74.31 and a two-hundred day moving average price of $68.66.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 earnings per share. Equities analysts predict that American International Group will post 6.95 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Wednesday, March 13th. American International Group’s dividend payout ratio is presently 28.86%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On American International Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of American International Group by 0.4% during the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after purchasing an additional 176,286 shares in the last quarter. Invesco Ltd. boosted its position in shares of American International Group by 3.0% during the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after purchasing an additional 503,547 shares in the last quarter. FMR LLC boosted its position in shares of American International Group by 5.0% during the third quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock worth $772,352,000 after purchasing an additional 604,901 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of American International Group by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 11,131,560 shares of the insurance provider’s stock worth $674,573,000 after purchasing an additional 408,335 shares in the last quarter. Finally, Norges Bank bought a new position in shares of American International Group during the fourth quarter worth $746,005,000. 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.