American International Group Inc (AIG) Given Average Rating of “Hold” by Brokerages
Shares of American International Group Inc (NYSE:AIG) have been given an average recommendation of “Hold” by the twenty-two brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $67.10.
Several research firms have recently weighed in on AIG. Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Wells Fargo & Co reiterated a “buy” rating on shares of American International Group in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $76.00 price objective on shares of American International Group in a report on Friday, December 22nd. Deutsche Bank upgraded American International Group from a “sell” rating to a “hold” rating and lifted their price objective for the company from $58.00 to $59.00 in a report on Wednesday, December 6th. Finally, Goldman Sachs Group began coverage on American International Group in a report on Monday, December 4th. They set a “neutral” rating and a $61.00 price objective on the stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia Trust Co. bought a new stake in American International Group in the 3rd quarter valued at approximately $109,000. Chicago Partners Investment Group LLC bought a new stake in American International Group in the 3rd quarter valued at approximately $163,000. Rational Advisors LLC raised its stake in shares of American International Group by 100.0% during the 3rd quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 1,500 shares in the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of American International Group during the 3rd quarter worth approximately $200,000. Finally, Investment Centers of America Inc. bought a new stake in shares of American International Group during the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 85.90% of the company’s stock.
American International Group (NYSE:AIG) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($2.45). The company had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.05 billion. American International Group had a positive return on equity of 3.43% and a negative net margin of 5.07%. During the same quarter in the previous year, the firm posted $1.23 earnings per share. equities research analysts expect that American International Group will post 2.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.10%. The ex-dividend date was Thursday, December 7th. American International Group’s payout ratio is -51.41%.
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American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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