American International Group (NYSE:AIG) Sets New 12-Month High at $78.95

Shares of American International Group, Inc. (NYSE:AIGGet Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $78.95 and last traded at $78.17, with a volume of 695882 shares traded. The stock had previously closed at $78.02.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AIG shares. Royal Bank of Canada upped their price objective on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. TD Cowen initiated coverage on American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 target price on shares of American International Group in a research note on Monday. HSBC initiated coverage on American International Group in a research note on Thursday, December 28th. They issued a “buy” rating and a $86.00 target price for the company. Finally, Wells Fargo & Company upped their target price on American International Group from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.47.

Check Out Our Latest Report on AIG

American International Group Price Performance

The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $72.71 and a two-hundred day moving average price of $67.28. The stock has a market capitalization of $53.05 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.09 and a beta of 1.03.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the company earned $1.36 EPS. American International Group’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts expect that American International Group, Inc. will post 7.1 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed 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 of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.85%. American International Group’s payout ratio is 28.86%.

Insider Buying and Selling

In related news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated 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 directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AIG. Norges Bank purchased a new position in shares of American International Group during the 4th quarter valued at about $736,063,000. Morgan Stanley raised its stake in American International Group by 55.1% during the 4th quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock valued at $665,247,000 after purchasing an additional 3,738,346 shares during the period. Sessa Capital IM L.P. bought a new stake in American International Group during the 1st quarter valued at approximately $73,040,000. Comerica Bank bought a new stake in American International Group during the 2nd quarter valued at approximately $80,676,000. Finally, Deutsche Bank AG raised its stake in American International Group by 58.1% during the 1st quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock valued at $185,677,000 after purchasing an additional 1,354,652 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Company Profile

(Get Free Report)

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.

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