Shares of American International Group, Inc. (NYSE:AIG – Get Rating) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $65.57.
Several research firms have recently weighed in on AIG. Barclays dropped their price target on shares of American International Group from $63.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. StockNews.com cut shares of American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 price target on shares of American International Group in a research note on Tuesday, May 10th.
Hedge Funds Weigh In On American International Group
Hedge funds have recently made changes to their positions in the stock. Equitec Proprietary Markets LLC purchased a new position in American International Group in the 4th quarter valued at approximately $27,000. Riverview Trust Co purchased a new position in American International Group in the 1st quarter valued at approximately $27,000. Clearstead Advisors LLC purchased a new position in American International Group in the 4th quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of American International Group by 138.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 657 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 382 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of American International Group in the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 92.57% of the company’s stock.
American International Group Stock Up 3.7 %
AIG stock opened at $51.74 on Wednesday. The company has a market cap of $40.99 billion, a price-to-earnings ratio of 4.48, a PEG ratio of 0.97 and a beta of 1.25. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.52. American International Group has a 12 month low of $44.87 and a 12 month high of $65.73. The firm has a 50-day moving average of $54.25 and a two-hundred day moving average of $58.39.
American International Group (NYSE:AIG – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The insurance provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. American International Group had a net margin of 18.30% and a return on equity of 7.11%. The company had revenue of $10.99 billion during the quarter, compared to the consensus estimate of $11.43 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. As a group, analysts forecast that American International Group will post 5.18 earnings per share for the current fiscal year.
American International Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.47%. American International Group’s payout ratio is currently 11.07%.
American International Group declared that its board has authorized a share buyback program on Tuesday, May 3rd that authorizes the company to buyback $6.50 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
American International Group Company Profile
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company’s General Insurance segment provides general liability, environmental, commercial automobile liability, workers’ compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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