American International Group (NYSE:AIG) Price Target Raised to $86.00

American International Group (NYSE:AIG) had its price target raised by Mizuho from $83.00 to $86.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

Several other equities research analysts have also weighed in on AIG. Wells Fargo & Company raised their price objective on American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. Barclays cut their price objective on American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Piper Sandler reduced their price objective on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Finally, HSBC lifted their target price on shares of American International Group from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.58.

American International Group Stock Performance

Shares of AIG opened at $79.45 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The firm’s 50 day moving average is $78.89 and its 200-day moving average is $78.87. American International Group has a 12-month low of $71.25 and a 12-month high of $88.07. The stock has a market capitalization of $42.63 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.61 and a beta of 0.61.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period last year, the firm posted $1.30 earnings per share. Equities research analysts anticipate that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $0.45 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio is presently 33.21%.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently modified their holdings of AIG. Geneos Wealth Management Inc. lifted its holdings in shares of American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after acquiring an additional 130 shares during the last quarter. First Bank & Trust lifted its stake in American International Group by 2.2% in the 3rd quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after purchasing an additional 131 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of American International Group by 17.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 131 shares during the last quarter. Finally, Howard Capital Management Inc. grew its position in shares of American International Group by 3.0% during the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock valued at $370,000 after purchasing an additional 138 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.