Brokerages Set American International Group, Inc. (NYSE:AIG) Target Price at $84.80

American International Group, Inc. (NYSE:AIG) has been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $84.80.

Several equities analysts have issued reports on AIG shares. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods decreased their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, Piper Sandler reduced their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On American International Group

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after purchasing an additional 6,119,996 shares during the period. Prana Capital Management LP lifted its position in shares of American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after acquiring an additional 1,391,859 shares during the period. Swedbank AB purchased a new stake in shares of American International Group during the 1st quarter worth approximately $99,951,000. Diamond Hill Capital Management Inc. boosted its stake in shares of American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after acquiring an additional 722,237 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after acquiring an additional 597,765 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of NYSE AIG opened at $77.13 on Friday. The stock’s 50-day simple moving average is $75.69 and its 200-day simple moving average is $75.51. The firm has a market capitalization of $48.11 billion, a PE ratio of -22.75, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. American International Group has a fifty-two week low of $64.54 and a fifty-two week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the company earned $1.61 earnings per share. As a group, equities research analysts forecast that American International Group will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.07%. American International Group’s dividend payout ratio is currently -47.20%.

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.