American International Group (NYSE:AIG) Price Target Raised to $90.00

American International Group (NYSE:AIG) had its price objective lifted by TD Cowen from $86.00 to $90.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the insurance provider’s stock.

AIG has been the subject of several other reports. Morgan Stanley decreased their price objective on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Wolfe Research started coverage on shares of American International Group in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Mizuho started coverage on American International Group in a report on Tuesday. They issued a “neutral” rating and a $84.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 8th. Finally, Jefferies Financial Group reduced their price target on American International Group from $99.00 to $96.00 in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus price target of $88.89.

American International Group Price Performance

Shares of AIG stock opened at $86.19 on Tuesday. The firm has a market capitalization of $46.51 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.89 and a beta of 0.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s 50-day simple moving average is $78.65 and its 200-day simple moving average is $80.37. American International Group has a fifty-two week low of $69.24 and a fifty-two week high of $88.07.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the business posted $1.23 EPS. As a group, equities analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s dividend payout ratio is presently 32.73%.

Hedge Funds Weigh In On American International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC raised its position in shares of American International Group by 2.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock worth $468,000 after purchasing an additional 126 shares during the last quarter. Monument Capital Management increased its stake in American International Group by 3.5% during the 2nd quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock worth $328,000 after buying an additional 129 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after acquiring an additional 130 shares in the last quarter. Finally, First Bank & Trust increased its position in shares of American International Group by 2.2% during the third quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after purchasing an additional 131 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.