Credit Suisse Group initiated coverage on shares of American International Group (NYSE:AIG) in a research note published on Tuesday, February 5th, MarketBeat reports. The firm issued a neutral rating and a $46.00 price target on the insurance provider’s stock.
A number of other brokerages have also weighed in on AIG. Wells Fargo & Co set a $62.00 price objective on American International Group and gave the stock a buy rating in a research report on Thursday, October 18th. Morgan Stanley set a $65.00 target price on shares of American International Group and gave the company a buy rating in a research report on Wednesday, October 17th. Deutsche Bank upgraded shares of American International Group from a hold rating to a buy rating in a research report on Wednesday, October 31st. Argus reduced their price target on shares of American International Group from $58.00 to $50.00 and set a buy rating for the company in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. set a $55.00 price objective on shares of American International Group and gave the company a hold rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $55.77.
Shares of AIG stock traded up $0.03 during trading hours on Tuesday, hitting $43.23. 5,349,002 shares of the company were exchanged, compared to its average volume of 6,761,842. The firm has a market cap of $37.27 billion, a P/E ratio of 36.95, a PEG ratio of 0.89 and a beta of 1.38. American International Group has a 1 year low of $36.16 and a 1 year high of $58.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.26 and a quick ratio of 0.26.
American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, February 13th. The insurance provider reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.10). The business had revenue of $12.33 billion for the quarter, compared to analyst estimates of $12.13 billion. American International Group had a positive return on equity of 1.76% and a negative net margin of 0.01%. During the same quarter last year, the firm earned $0.57 earnings per share. Analysts expect that American International Group will post 4.4 earnings per share for the current fiscal year.
American International Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.28 annualized dividend and a yield of 2.96%. American International Group’s dividend payout ratio (DPR) is presently 109.40%.
A number of institutional investors and hedge funds have recently modified their holdings of AIG. Actinver Wealth Management Inc. purchased a new stake in shares of American International Group in the 4th quarter worth $450,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of American International Group during the 4th quarter valued at about $690,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in shares of American International Group during the 4th quarter valued at about $365,000. Nordea Investment Management AB boosted its holdings in shares of American International Group by 3.0% during the 4th quarter. Nordea Investment Management AB now owns 456,156 shares of the insurance provider’s stock valued at $17,977,000 after purchasing an additional 13,264 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of American International Group by 49.9% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 22,573,630 shares of the insurance provider’s stock valued at $889,627,000 after purchasing an additional 7,516,503 shares during the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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