American International Group (NYSE:AIG) Price Target Raised to $96.00

American International Group (NYSE:AIG) had its price target increased by Keefe, Bruyette & Woods from $91.00 to $96.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other research analysts have also weighed in on AIG. Bank of America lifted their target price on American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Piper Sandler raised their price target on American International Group from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Mizuho initiated coverage on American International Group in a report on Tuesday, December 16th. They set a “neutral” rating and a $84.00 price objective on the stock. The Goldman Sachs Group lowered their target price on American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of American International Group in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.17.

American International Group Stock Up 1.0%

Shares of NYSE AIG opened at $77.82 on Tuesday. American International Group has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $41.99 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.74 and a beta of 0.62. The firm has a 50 day moving average price of $80.16 and a 200 day moving average price of $80.28.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the business posted $1.23 earnings per share. Analysts expect that American International Group will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio is 32.73%.

Institutional Trading of American International Group

Institutional investors have recently made changes to their positions in the business. Westfuller Advisors LLC bought a new position in American International Group in the third quarter valued at $26,000. Atlantic Union Bankshares Corp lifted its position in American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares in the last quarter. Eastern Bank boosted its stake in shares of American International Group by 2,473.3% during the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after buying an additional 371 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of American International Group in the 2nd quarter valued at about $32,000. Finally, GFG Capital LLC bought a new position in shares of American International Group in the 2nd quarter valued at about $33,000. Institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.