American International Group (NYSE:AIG) Price Target Raised to $98.00 at Barclays

American International Group (NYSE:AIG) had its price objective boosted by Barclays from $90.00 to $98.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other analysts have also weighed in on the company. Morgan Stanley raised their price objective on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $90.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday. Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.76.

American International Group Price Performance

Shares of NYSE:AIG opened at $87.77 on Wednesday. The firm has a 50 day moving average of $79.26 and a 200-day moving average of $76.23. American International Group has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $52.08 billion, a PE ratio of -42.20, a PEG ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, equities research analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. American International Group’s payout ratio is currently -76.92%.

Insider Activity

In other American International Group news, Director John G. Rice bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by company insiders.

Institutional Trading of American International Group

Several large investors have recently modified their holdings of the stock. Snowden Capital Advisors LLC lifted its position in shares of American International Group by 1.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider’s stock valued at $769,000 after acquiring an additional 146 shares during the period. Catalina Capital Group LLC raised its holdings in shares of American International Group by 5.1% during the fourth quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 148 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its position in shares of American International Group by 1.8% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider’s stock worth $641,000 after purchasing an additional 152 shares in the last quarter. Pitcairn Co. grew its stake in shares of American International Group by 2.2% in the 4th quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock valued at $536,000 after buying an additional 158 shares during the period. Finally, Integrated Advisors Network LLC increased its position in American International Group by 1.0% in the 4th quarter. Integrated Advisors Network LLC now owns 16,316 shares of the insurance provider’s stock valued at $1,188,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

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.