American International Group (NYSE:AIG) Price Target Raised to $81.00

American International Group (NYSE:AIG) had its price target hoisted by Cantor Fitzgerald from $77.00 to $81.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

A number of other research analysts also recently issued reports on the stock. Mizuho boosted their price objective on shares of American International Group from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday. Bank of America cut their target price on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, January 16th. Evercore decreased their price target on shares of American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. Piper Sandler lowered their price objective on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Finally, HSBC upped their target price on American International Group from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, American International Group presently has an average rating of “Hold” and an average target price of $87.58.

American International Group Trading Down 0.4%

AIG opened at $79.45 on Tuesday. The business has a 50 day simple moving average of $78.89 and a two-hundred day simple moving average of $78.87. The firm has a market capitalization of $42.63 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.61 and a beta of 0.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group has a one year low of $71.25 and a one year high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period last year, the company earned $1.30 EPS. Analysts predict that American International Group will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s dividend payout ratio (DPR) is 33.21%.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently bought and sold shares of AIG. Brighton Jones LLC bought a new position in shares of American International Group in the fourth quarter worth approximately $1,091,000. Sivia Capital Partners LLC lifted its position in American International Group by 30.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after acquiring an additional 1,185 shares in the last quarter. Private Trust Co. NA boosted its stake in American International Group by 36.0% during the 2nd quarter. Private Trust Co. NA now owns 3,880 shares of the insurance provider’s stock valued at $332,000 after purchasing an additional 1,027 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of American International Group by 10.7% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,109 shares of the insurance provider’s stock worth $406,000 after purchasing an additional 493 shares in the last quarter. Finally, Journey Advisory Group LLC purchased a new position in shares of American International Group in the second quarter worth $240,000. 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.