Piper Sandler Boosts American International Group (NYSE:AIG) Price Target to $89.00

American International Group (NYSE:AIG) had its target price upped by Piper Sandler from $87.00 to $89.00 in a research note released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

Several other equities analysts also recently issued reports on AIG. Keefe, Bruyette & Woods raised their price target on shares of American International Group from $82.00 to $86.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Bank of America downgraded shares of American International Group from a buy rating to a neutral rating and lifted their target price for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. BMO Capital Markets lowered their target price on shares of American International Group from $83.00 to $81.00 and set an outperform rating for the company in a research note on Thursday, February 15th. Royal Bank of Canada lifted their target price on shares of American International Group from $76.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Finally, UBS Group lifted their target price on shares of American International Group from $83.00 to $84.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American International Group presently has an average rating of Moderate Buy and a consensus target price of $80.38.

American International Group Price Performance

AIG stock opened at $74.96 on Friday. The company has a fifty day moving average price of $74.31 and a 200-day moving average price of $68.66. The company has a market capitalization of $51.04 billion, a P/E ratio of 15.02, a PEG ratio of 1.07 and a beta of 1.03. American International Group has a 52-week low of $48.95 and a 52-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.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.20. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, equities analysts expect that American International Group will post 6.95 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Wednesday, March 13th. American International Group’s dividend payout ratio is currently 28.86%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in American International Group during the first quarter worth about $29,000. OFI Invest Asset Management purchased a new position in American International Group during the third quarter worth about $26,000. Headlands Technologies LLC purchased a new position in American International Group during the third quarter worth about $32,000. Neo Ivy Capital Management purchased a new position in American International Group in the fourth quarter valued at about $40,000. Finally, Scarborough Advisors LLC purchased a new position in American International Group in the fourth quarter valued at about $40,000. 90.60% of the stock is currently 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.