BMO Capital Markets Raises American International Group (NYSE:AIG) Price Target to $90.00

American International Group (NYSE:AIG) had its target price increased by BMO Capital Markets from $87.00 to $90.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

A number of other research firms have also recently weighed in on AIG. Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $96.00 to $90.00 and set an outperform rating for the company in a research report on Monday, August 12th. Citigroup decreased their target price on American International Group from $89.00 to $87.00 and set a buy rating on the stock in a research report on Tuesday, July 23rd. Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They set an overweight rating and a $90.00 price target for the company. Evercore ISI reduced their target price on shares of American International Group from $81.00 to $78.00 and set an in-line rating for the company in a research report on Thursday, June 27th. Finally, Wells Fargo & Company lowered their price target on shares of American International Group from $79.00 to $77.00 and set an equal weight rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $84.27.

American International Group Price Performance

Shares of NYSE AIG opened at $76.05 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $73.87 and its 200-day simple moving average is $75.54. American International Group has a 12 month low of $58.69 and a 12 month high of $80.83. The stock has a market capitalization of $50.47 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 3.70 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. American International Group’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 EPS. Analysts expect that American International Group will post 5.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On American International Group

Several hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in American International Group by 348.6% during the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the period. Vinva Investment Management Ltd purchased a new stake in shares of American International Group during the fourth quarter worth $1,699,000. OFI Invest Asset Management raised its position in American International Group by 2,208.3% in the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after purchasing an additional 9,805 shares in the last quarter. Bessemer Group Inc. raised its position in American International Group by 64.3% in the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after purchasing an additional 11,149 shares in the last quarter. Finally, Coronation Fund Managers Ltd. purchased a new position in shares of American International Group in the 1st quarter valued at about $1,367,000. Institutional investors and hedge funds 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.