American International Group (NYSE:AIG) PT Raised to $89.00 at Piper Sandler

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

A number of other analysts have also weighed in on AIG. Wells Fargo & Company upped their price objective on shares of American International Group from $74.00 to $80.00 and gave the stock an equal weight rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on shares of American International Group from $73.00 to $80.00 and gave the stock a neutral rating in a report on Monday, April 8th. UBS Group boosted their target price on shares of American International Group from $83.00 to $84.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Evercore ISI boosted their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an in-line rating in a report on Thursday, April 11th. Finally, HSBC began coverage on shares of American International Group in a report on Thursday, December 28th. They issued a buy rating and a $86.00 target price for the company. Nine 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.com, American International Group currently has an average rating of Moderate Buy and a consensus price target of $79.18.

American International Group Stock Up 1.7 %

NYSE:AIG opened at $74.23 on Friday. American International Group has a 1-year low of $48.95 and a 1-year high of $78.95. The company has a 50-day moving average of $74.21 and a 200 day moving average of $68.43. The firm has a market cap of $50.55 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31.

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

American International Group Dividend Announcement

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

Insider Buying and Selling

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

Institutional Investors Weigh In On American International Group

Hedge funds have recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in American International Group in the 3rd quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in shares of American International Group during the 1st quarter valued at approximately $29,000. Headlands Technologies LLC purchased a new position in shares of American International Group during the 3rd quarter valued at approximately $32,000. Neo Ivy Capital Management purchased a new position in shares of American International Group during the 4th quarter valued at approximately $40,000. Finally, Scarborough Advisors LLC purchased a new position in shares of American International Group during the 4th quarter valued at approximately $40,000. 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.