American International Group’s (AIG) “Buy” Rating Reiterated at Argus

Argus restated their buy rating on shares of American International Group (NYSE:AIG) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $90.00 price target on the insurance provider’s stock.

A number of other brokerages also recently issued reports on AIG. Royal Bank Of Canada lifted their price target on shares of American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Barclays lifted their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wells Fargo & Company dropped their target price on American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. HSBC cut their price target on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, BMO Capital Markets lifted their price target on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.37.

American International Group Stock Performance

NYSE:AIG opened at $76.18 on Wednesday. American International Group has a 52 week low of $71.25 and a 52 week high of $87.29. The company has a fifty day simple moving average of $77.96 and a two-hundred day simple moving average of $76.99. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.86 and a beta of 0.50.

American International Group (NYSE:AIG) last released its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the previous year, the firm posted $1.81 EPS. As a group, equities analysts anticipate that American International Group will post 8.02 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group’s payout ratio is currently 36.56%.

Insider Activity

In other news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company’s stock, valued at $45,333,939.51. This trade represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AIG. California State Teachers Retirement System grew its holdings in American International Group by 6,834.8% in the second quarter. California State Teachers Retirement System now owns 65,677,774 shares of the insurance provider’s stock valued at $4,894,964,000 after purchasing an additional 64,730,704 shares during the last quarter. Norges Bank acquired a new position in shares of American International Group during the 4th quarter worth $636,782,000. Bank of New York Mellon Corp purchased a new stake in shares of American International Group in the 2nd quarter worth about $496,890,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in American International Group in the 2nd quarter valued at about $464,539,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.