American International Group (NYSE:AIG) Price Target Raised to $98.00

American International Group (NYSE:AIG) had its target price lifted by UBS Group from $94.00 to $98.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research firms have also recently issued reports on AIG. Barclays raised their price target on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Wells Fargo & Company decreased their target price on American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. HSBC dropped their target price on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Morgan Stanley dropped their price objective on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, The Goldman Sachs Group boosted their target price on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus price target of $88.44.

American International Group Price Performance

NYSE AIG opened at $79.13 on Wednesday. The firm’s fifty day simple moving average is $76.22 and its two-hundred day simple moving average is $76.99. The firm has a market capitalization of $41.96 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.72 and a beta of 0.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group has a 12-month low of $71.25 and a 12-month high of $87.29.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the prior year, the business posted $1.17 EPS. Analysts forecast that American International Group will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.5%. American International Group’s dividend payout ratio is 35.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after acquiring an additional 1,899,203 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after buying an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. boosted its holdings in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after buying an additional 1,846,979 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after acquiring an additional 474,035 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group News Summary

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: Cantor Fitzgerald upgraded AIG from neutral to overweight and lifted its price target to $92, citing continued Q1 momentum. AIG raised to overweight at Cantor based on Q1 momentum continuing
• Positive Sentiment: Mizuho raised its price target on AIG to $89 from $86, reflecting higher valuation expectations even while keeping a neutral rating. American International Group (NYSE:AIG) Price Target Raised to $89.00 at Mizuho
• Positive Sentiment: Wells Fargo also increased its target on AIG to $89 from $85, suggesting analysts see further upside from current levels. Benzinga report on Wells Fargo target increase
• Neutral Sentiment: Barclays reaffirmed its hold rating on AIG, which does not add to the bullish case but shows the stock still has analyst attention. Barclays Reaffirms Their Hold Rating on American International Group (AIG)
• Neutral Sentiment: UBS issued a positive forecast for AIG, but no specific target change or upgrade was detailed in the provided item. UBS Group Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

American International Group Company Profile

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.