American International Group (NYSE:AIG) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of American International Group (NYSE:AIG) in a research report released on Tuesday, Benzinga reports. The firm currently has a $87.00 price objective on the insurance provider’s stock.

A number of other analysts also recently weighed in on AIG. HSBC downgraded shares of American International Group from a buy rating to a hold rating and set a $86.00 price target on the stock. in a research report on Wednesday, May 15th. BMO Capital Markets boosted their price target on shares of American International Group from $88.00 to $89.00 and gave the company an outperform rating in a report on Monday, May 13th. Morgan Stanley raised their price objective on American International Group from $72.00 to $79.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Bank of America boosted their target price on American International Group from $82.00 to $84.00 and gave the company a neutral rating in a research note on Tuesday, June 11th. Finally, Wells Fargo & Company raised their price target on American International Group from $80.00 to $82.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $82.50.

American International Group Stock Performance

Shares of American International Group stock opened at $76.95 on Tuesday. The firm has a fifty day moving average of $76.72 and a two-hundred day moving average of $73.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $51.07 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.06 and a beta of 1.08. American International Group has a 52 week low of $57.02 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The business had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. As a group, equities research analysts predict that American International Group will post 7.02 EPS for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.08%. American International Group’s dividend payout ratio is 23.88%.

American International Group declared that its board has authorized a stock buyback program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 19.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

A number of hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC raised its stake in American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of American International Group by 16.7% in the second quarter. Valeo Financial Advisors LLC now owns 17,680 shares of the insurance provider’s stock valued at $1,313,000 after purchasing an additional 2,534 shares during the last quarter. CWM LLC raised its position in shares of American International Group by 7.2% in the second quarter. CWM LLC now owns 12,989 shares of the insurance provider’s stock valued at $964,000 after purchasing an additional 874 shares during the period. Park Avenue Securities LLC lifted its stake in shares of American International Group by 6.7% during the 2nd quarter. Park Avenue Securities LLC now owns 24,513 shares of the insurance provider’s stock worth $1,820,000 after buying an additional 1,534 shares during the last quarter. Finally, First Bank & Trust boosted its holdings in shares of American International Group by 8.6% during the 2nd quarter. First Bank & Trust now owns 5,755 shares of the insurance provider’s stock worth $427,000 after buying an additional 455 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

About American International Group

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.