American International Group (NYSE:AIG) Given New $87.00 Price Target at Citigroup

American International Group (NYSE:AIG) had its price objective upped by Citigroup from $79.00 to $87.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company upped their target price on American International Group from $74.00 to $80.00 and gave the company an equal weight rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods upped their target price on American International Group from $82.00 to $86.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Evercore ISI upped their target price on American International Group from $74.00 to $80.00 and gave the company an in-line rating in a report on Thursday, April 11th. Morgan Stanley upped their price objective on American International Group from $72.00 to $79.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Finally, BMO Capital Markets dropped their price objective on American International Group from $83.00 to $81.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $79.18.

American International Group Stock Up 1.7 %

AIG stock opened at $74.23 on Tuesday. The stock’s 50 day simple moving average is $74.21 and its 200 day simple moving average is $68.43. American International Group has a fifty-two week low of $48.95 and a fifty-two week high of $78.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $50.55 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. On average, research analysts expect that American International Group will post 7.03 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is presently 28.86%.

Insider Activity at American International Group

In other news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the transaction, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Inglis bought 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by insiders.

Institutional Trading of American International Group

A number of institutional investors and hedge funds have recently modified their holdings of AIG. Capital Research Global Investors boosted its position in American International Group by 0.4% during the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after acquiring an additional 176,286 shares during the last quarter. Invesco Ltd. increased its position in shares of American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after purchasing an additional 503,547 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of American International Group by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 13,407,381 shares of the insurance provider’s stock valued at $673,990,000 after buying an additional 180,340 shares in the last quarter. FMR LLC boosted its holdings in shares of American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after buying an additional 604,901 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of American International Group in the 4th quarter valued at $736,063,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.