Investors Buy American International Group Inc. (AIG) on Weakness
Traders purchased shares of American International Group Inc. (NYSE:AIG) on weakness during trading hours on Friday. $52.02 million flowed into the stock on the tick-up and $30.74 million flowed out of the stock on the tick-down, for a money net flow of $21.28 million into the stock. Of all stocks tracked, American International Group had the 27th highest net in-flow for the day. American International Group traded down ($0.42) for the day and closed at $59.41
AIG has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on American International Group from $58.86 to $64.00 and gave the stock a “market perform” rating in a report on Monday, August 22nd. Vetr upgraded American International Group from a “buy” rating to a “strong-buy” rating and set a $63.34 price objective for the company in a report on Thursday, June 9th. Zacks Investment Research downgraded American International Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 5th. Wells Fargo & Co. upgraded American International Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.20 to $63.67 in a report on Tuesday, May 17th. Finally, FBR & Co reduced their price objective on American International Group from $56.00 to $53.00 and set a “mkt perform” rating for the company in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $64.75.
The company’s 50-day moving average is $57.43 and its 200 day moving average is $55.00. The firm’s market cap is $64.09 billion.
American International Group (NYSE:AIG) last released its earnings results on Tuesday, August 2nd. The insurance provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. During the same period in the previous year, the company posted $1.39 earnings per share. On average, analysts expect that American International Group Inc. will post $4.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $0.32 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.28 annualized dividend and a dividend yield of 2.14%.
American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.
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