AIG has been the topic of several other reports. Goldman Sachs raised American International Group from a neutral rating to a buy rating and set a $61.00 target price on the stock in a report on Thursday, May 10th. ValuEngine cut American International Group from a hold rating to a sell rating in a report on Thursday, May 3rd. Barclays reaffirmed an overweight rating and issued a $71.00 target price (up from $68.00) on shares of American International Group in a report on Tuesday, February 20th. Morgan Stanley reduced their target price on American International Group from $72.00 to $65.00 and set an overweight rating on the stock in a report on Friday, May 4th. Finally, Deutsche Bank reduced their target price on American International Group from $60.00 to $58.00 and set a hold rating on the stock in a report on Thursday, May 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $66.56.
NYSE:AIG opened at $54.79 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.53. The stock has a market cap of $48.21 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24. American International Group has a 52 week low of $52.91 and a 52 week high of $53.26.
American International Group (NYSE:AIG) last issued its earnings results on Wednesday, May 2nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.22). American International Group had a positive return on equity of 2.65% and a negative net margin of 13.03%. The firm had revenue of $11.73 billion during the quarter, compared to the consensus estimate of $11.60 billion. During the same period last year, the firm posted $1.36 earnings per share. analysts predict that American International Group will post 4.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Thursday, June 14th will be given a $0.32 dividend. The ex-dividend date is Wednesday, June 13th. This represents a $1.28 annualized dividend and a yield of 2.34%. American International Group’s dividend payout ratio is currently 53.33%.
In related news, Director Douglas M. Steenland purchased 4,800 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The stock was bought at an average price of $52.06 per share, for a total transaction of $249,888.00. Following the completion of the transaction, the director now owns 3,510 shares in the company, valued at approximately $182,730.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas B. Leonardi purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The stock was bought at an average price of $51.55 per share, with a total value of $128,875.00. Following the transaction, the insider now owns 2,500 shares of the company’s stock, valued at approximately $128,875. The disclosure for this purchase can be found here. Company insiders own 0.05% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIG. Private Trust Co. NA purchased a new position in American International Group in the fourth quarter worth about $213,000. Schwab Charles Investment Management Inc. grew its position in American International Group by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,749,012 shares of the insurance provider’s stock worth $223,367,000 after acquiring an additional 155,545 shares in the last quarter. CAPROCK Group Inc. purchased a new position in American International Group in the fourth quarter worth about $212,000. Nepsis Capital Management Inc. grew its position in American International Group by 8.2% in the fourth quarter. Nepsis Capital Management Inc. now owns 74,496 shares of the insurance provider’s stock worth $4,438,000 after acquiring an additional 5,634 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of American International Group by 334.7% during the fourth quarter. State of Alaska Department of Revenue now owns 97,947 shares of the insurance provider’s stock valued at $5,834,000 after buying an additional 75,415 shares during the period. Institutional investors own 88.84% of the company’s stock.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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