American International Group (NYSE:AIG) Given New $79.00 Price Target at Morgan Stanley

American International Group (NYSE:AIG) had its price objective increased by Morgan Stanley from $72.00 to $79.00 in a report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Other equities analysts have also recently issued reports about the company. Bank of America cut American International Group from a buy rating to a neutral rating and boosted their target price for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. HSBC started coverage on American International Group in a research report on Thursday, December 28th. They set a buy rating and a $86.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on American International Group from $82.00 to $86.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. UBS Group lifted their price target on American International Group from $83.00 to $84.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Finally, Evercore ISI lifted their price target on American International Group from $74.00 to $80.00 and gave the company an in-line rating in a research report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $79.06.

American International Group Price Performance

Shares of American International Group stock opened at $72.99 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50 day simple moving average is $74.10 and its two-hundred day simple moving average is $68.33. The stock has a market capitalization of $49.70 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.03. American International Group has a one year low of $48.95 and a one year high of $78.95.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. Analysts forecast that American International Group will post 7.05 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Wednesday, March 13th. American International Group’s dividend payout ratio is currently 28.86%.

Insider Transactions at American International Group

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

Institutional Trading of American International Group

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB increased its position in American International Group by 18.7% in the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after buying an additional 319,948 shares in the last quarter. American Century Companies Inc. increased its position in American International Group by 22.6% in the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after buying an additional 77,874 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in American International Group by 121.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after buying an additional 21,279 shares in the last quarter. Tritonpoint Wealth LLC purchased a new stake in American International Group in the fourth quarter worth about $1,072,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in American International Group by 12.9% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 581,239 shares of the insurance provider’s stock worth $39,379,000 after buying an additional 66,603 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.