American International Group (NYSE:AIG) Given New $51.00 Price Target at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell

American International Group (NYSE:AIG) had its price objective upped by Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $48.00 to $51.00 in a research report sent to investors on Monday morning, Analyst Ratings Network reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell currently has a neutral rating on the insurance provider’s stock.

A number of other equities analysts also recently issued reports on AIG. William Blair reissued a market perform rating on shares of American International Group in a research report on Monday, May 10th. Credit Suisse Group increased their price target on American International Group from $35.00 to $42.00 and gave the stock a neutral rating in a research report on Monday, March 1st. JPMorgan Chase & Co. increased their price target on American International Group from $39.00 to $48.00 and gave the stock a neutral rating in a research report on Monday, April 5th. Morgan Stanley increased their price target on American International Group from $52.00 to $60.00 and gave the stock an overweight rating in a research report on Thursday, May 27th. Finally, Citigroup increased their price target on American International Group from $43.00 to $48.00 in a research report on Wednesday, March 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $47.92.

AIG stock opened at $47.75 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a fifty day simple moving average of $50.11. American International Group has a twelve month low of $25.57 and a twelve month high of $54.08. The stock has a market capitalization of $40.98 billion, a price-to-earnings ratio of -10.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, May 5th. The insurance provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. American International Group had a positive return on equity of 4.75% and a negative net margin of 8.73%. The business had revenue of $10.62 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter last year, the firm posted $0.12 earnings per share. As a group, equities research analysts forecast that American International Group will post 4.48 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 29th. Shareholders of record on Tuesday, June 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, June 14th. American International Group’s dividend payout ratio is presently 50.79%.

In other news, EVP Kevin T. Hogan sold 41,000 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $52.28, for a total value of $2,143,480.00. Following the completion of the transaction, the executive vice president now directly owns 165,507 shares in the company, valued at $8,652,705.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Douglas A. Dachille sold 19,712 shares of the firm’s stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $53.23, for a total value of $1,049,269.76. Following the completion of the transaction, the executive vice president now owns 107,159 shares of the company’s stock, valued at $5,704,073.57. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in AIG. Los Angeles Capital Management LLC raised its stake in shares of American International Group by 7.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 52,268 shares of the insurance provider’s stock worth $1,979,000 after purchasing an additional 3,568 shares during the last quarter. FIL Ltd raised its position in American International Group by 140.0% during the fourth quarter. FIL Ltd now owns 2,882 shares of the insurance provider’s stock valued at $109,000 after acquiring an additional 1,681 shares in the last quarter. Toronto Dominion Bank raised its position in American International Group by 15.0% during the fourth quarter. Toronto Dominion Bank now owns 570,742 shares of the insurance provider’s stock valued at $21,607,000 after acquiring an additional 74,416 shares in the last quarter. CIBC World Markets Inc. increased its position in shares of American International Group by 33.2% in the fourth quarter. CIBC World Markets Inc. now owns 66,089 shares of the insurance provider’s stock valued at $2,502,000 after buying an additional 16,480 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $521,000. Hedge funds and other institutional investors own 89.99% of the company’s stock.

American International Group Company Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

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