Brokerages Set American International Group Inc (AIG) Price Target at $61.57

Shares of American International Group Inc (NYSE:AIG) have earned an average rating of “Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $60.75.

Several brokerages have recently weighed in on AIG. ValuEngine cut American International Group from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Wells Fargo & Co set a $62.00 target price on American International Group and gave the stock a “buy” rating in a report on Thursday, October 18th. Deutsche Bank lowered their target price on American International Group from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Monday, October 22nd. Finally, JPMorgan Chase & Co. set a $63.00 target price on American International Group and gave the stock a “hold” rating in a report on Sunday, August 5th.

Shares of American International Group stock traded up $0.75 on Thursday, hitting $42.69. 7,205,717 shares of the company were exchanged, compared to its average volume of 6,158,530. The stock has a market cap of $37.57 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.42 and a beta of 1.46. American International Group has a 1-year low of $39.29 and a 1-year high of $65.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.26 and a quick ratio of 0.26.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, October 31st. The insurance provider reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.40). The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.44 billion. American International Group had a positive return on equity of 3.44% and a negative net margin of 12.73%. During the same quarter in the prior year, the firm earned ($1.22) earnings per share. As a group, research analysts expect that American International Group will post 2.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Wednesday, December 12th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 11th. American International Group’s payout ratio is presently 53.33%.

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of American International Group by 4,404.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,892 shares of the insurance provider’s stock valued at $100,000 after buying an additional 1,850 shares during the period. Atlas Capital Advisors LLC purchased a new stake in shares of American International Group during the 2nd quarter valued at approximately $115,000. Kaizen Advisory LLC raised its position in shares of American International Group by 152.1% during the 2nd quarter. Kaizen Advisory LLC now owns 2,196 shares of the insurance provider’s stock valued at $116,000 after buying an additional 1,325 shares during the period. Zions Bancorporation purchased a new stake in shares of American International Group during the 3rd quarter valued at approximately $124,000. Finally, Financial Engines Advisors L.L.C. raised its position in shares of American International Group by 350.2% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 2,890 shares of the insurance provider’s stock valued at $154,000 after buying an additional 2,248 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Company Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.

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Analyst Recommendations for American International Group (NYSE:AIG)

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