American International Group (NYSE:AIG) Given New $87.00 Price Target at Citigroup

American International Group (NYSE:AIG) had its target price boosted by Citigroup from $79.00 to $87.00 in a research report released on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the insurance provider’s stock.

Several other research analysts also recently weighed in on AIG. Bank of America downgraded shares of American International Group from a buy rating to a neutral rating and boosted their target price for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods boosted their target price on shares of American International Group from $82.00 to $86.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their target price on shares of American International Group from $76.00 to $80.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Morgan Stanley boosted their target price on shares of American International Group from $72.00 to $79.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company upped their price objective on shares of American International Group from $74.00 to $80.00 and gave the company an equal weight rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, American International Group has a consensus rating of Moderate Buy and an average target price of $79.18.

American International Group Stock Performance

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

American International Group (NYSE:AIG) last issued its 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. 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 for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s revenue was up .0% on a year-over-year basis. On average, sell-side analysts expect that American International Group will post 7.03 EPS for the current year.

American International Group Announces Dividend

The business also recently announced 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 currently 28.86%.

Insiders Place Their Bets

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

Institutional Trading of American International Group

A number of large investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in American International Group in the third quarter worth $26,000. Rise Advisors LLC acquired a new position in American International Group in the first quarter worth $29,000. Headlands Technologies LLC acquired a new position in American International Group in the third quarter worth $32,000. Neo Ivy Capital Management acquired a new position in American International Group in the fourth quarter worth $40,000. Finally, Scarborough Advisors LLC acquired a new position in American International Group in the fourth quarter worth $40,000. 90.60% of the stock is currently owned by institutional investors.

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.