American International Group (NYSE:AIG) Reaches New 12-Month High After Analyst Upgrade

American International Group, Inc. (NYSE:AIG) hit a new 52-week high on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock to $91.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. American International Group traded as high as $87.51 and last traded at $87.01, with a volume of 9834056 shares. The stock had previously closed at $83.62.

A number of other equities research analysts also recently weighed in on the company. Barclays boosted their target price on American International Group from $90.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group dropped their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. 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, The Goldman Sachs Group raised their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.76.

Insiders Place Their Bets

In related news, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of American International Group by 62.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 66,104 shares of the insurance provider’s stock worth $4,812,000 after buying an additional 25,458 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in American International Group by 0.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,737 shares of the insurance provider’s stock worth $1,437,000 after acquiring an additional 169 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of American International Group during the 4th quarter worth approximately $28,113,000. Integrated Advisors Network LLC raised its holdings in shares of American International Group by 1.0% in the fourth quarter. Integrated Advisors Network LLC now owns 16,316 shares of the insurance provider’s stock valued at $1,188,000 after purchasing an additional 161 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in shares of American International Group in the fourth quarter worth $29,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

The firm has a market cap of $52.08 billion, a P/E ratio of -42.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The stock’s 50-day moving average price is $79.26 and its 200 day moving average price is $76.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

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

American International Group Dividend Announcement

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

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.