American International Group (NYSE:AIG) Given New $79.00 Price Target at Morgan Stanley

American International Group (NYSE:AIG) had its price target hoisted by Morgan Stanley from $72.00 to $79.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price target on American International Group from $73.00 to $80.00 and gave the stock a neutral rating in a research report on Monday, April 8th. BMO Capital Markets reduced their price target on American International Group from $83.00 to $81.00 and set an outperform rating for the company 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 set a market perform rating and a $78.00 target price on the stock. HSBC initiated coverage on American International Group in a research note on Thursday, December 28th. They set a buy rating and a $86.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on American International Group from $82.00 to $86.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Nine 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, American International Group currently has an average rating of Moderate Buy and an average price target of $79.06.

American International Group Trading Up 0.6 %

Shares of NYSE:AIG opened at $72.99 on Monday. The company has a market capitalization of $49.70 billion, a PE ratio of 14.63, a P/E/G ratio of 1.05 and a beta of 1.03. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group has a 12-month low of $48.95 and a 12-month high of $78.95. The business’s fifty day simple moving average is $74.10 and its 200-day simple moving average is $68.33.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.59 by $0.20. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. As a group, equities research analysts predict that American International Group will post 7.05 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.97%. American International Group’s payout ratio is presently 28.86%.

Insider Buying and Selling at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Institutional investors and hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in shares of American International Group in the 3rd quarter valued at about $26,000. Rise Advisors LLC acquired a new position in American International Group in the 1st quarter worth about $29,000. Headlands Technologies LLC acquired a new position in American International Group in the 3rd quarter worth about $32,000. Neo Ivy Capital Management acquired a new position in American International Group in the 4th quarter worth about $40,000. Finally, Scarborough Advisors LLC acquired a new position in American International Group in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

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.