The Goldman Sachs Group Reiterates Buy Rating for American International Group (NYSE:AIG)

The Goldman Sachs Group restated their buy rating on shares of American International Group (NYSE:AIGGet Rating) in a research note published on Tuesday, Marketbeat.com reports. The Goldman Sachs Group currently has a $81.00 price objective on the insurance provider’s stock.

AIG has been the topic of a number of other research reports. Barclays lifted their price target on shares of American International Group from $61.00 to $63.00 and gave the stock an equal weight rating in a research note on Tuesday, April 12th. Wolfe Research downgraded shares of American International Group from an outperform rating to a market perform rating and set a $65.00 price target on the stock. in a research note on Thursday, February 10th. Finally, StockNews.com started coverage on American International Group in a report on Thursday, March 31st. They set a hold rating for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, American International Group presently has a consensus rating of Hold and a consensus price target of $64.11.

Shares of American International Group stock opened at $58.56 on Tuesday. American International Group has a 1 year low of $44.54 and a 1 year high of $65.73. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $61.08 and its 200-day simple moving average is $59.23. The company has a market cap of $46.39 billion, a price-to-earnings ratio of 5.07, a PEG ratio of 1.10 and a beta of 1.24.

American International Group (NYSE:AIGGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The insurance provider reported $1.30 earnings per share for the quarter, topping 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 firm had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $11.43 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. As a group, research analysts forecast that American International Group will post 5.33 earnings per share for the current fiscal year.

American International Group declared that its board has initiated a share buyback plan on Tuesday, May 3rd that allows the company to repurchase $6.50 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.19%. American International Group’s payout ratio is presently 11.07%.

Several institutional investors have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of American International Group by 7.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,532 shares of the insurance provider’s stock valued at $144,000 after buying an additional 167 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of American International Group by 0.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,292 shares of the insurance provider’s stock valued at $3,345,000 after buying an additional 167 shares during the last quarter. First Bank & Trust raised its holdings in shares of American International Group by 6.4% in the fourth quarter. First Bank & Trust now owns 3,005 shares of the insurance provider’s stock valued at $171,000 after buying an additional 181 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of American International Group by 3.1% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,978 shares of the insurance provider’s stock valued at $343,000 after buying an additional 182 shares during the last quarter. Finally, Tyler Stone Wealth Management increased its position in American International Group by 6.1% in the first quarter. Tyler Stone Wealth Management now owns 3,265 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 187 shares during the period. 92.57% of the stock is owned by institutional investors and hedge funds.

American International Group Company Profile (Get Rating)

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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