Royal Bank of Canada Boosts American International Group (NYSE:AIG) Price Target to $76.00

by · The Cerbat Gem

American International Group (NYSE:AIG – Free Report) had its price target raised by Royal Bank of Canada from $72.00 to $76.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other equities analysts also recently weighed in on AIG. Wells Fargo & Company lifted their target price on shares of American International Group from $62.00 to $64.00 and gave the stock an equal weight rating in a research note on Tuesday, October 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of American International Group in a research note on Wednesday, October 4th. They issued a buy rating and a $79.00 price objective for the company. Morgan Stanley upped their price objective on shares of American International Group from $65.00 to $67.00 and gave the company an equal weight rating in a research note on Thursday, November 9th. StockNews.com began coverage on shares of American International Group in a research report on Thursday, October 5th. They set a hold rating for the company. Finally, BMO Capital Markets upgraded shares of American International Group from a market perform rating to an outperform rating and upped their price objective for the stock from $72.00 to $83.00 in a report on Tuesday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $70.33.

Get Our Latest Report on American International Group

American International Group Trading Up 0.5 %

Shares of NYSE AIG opened at $66.93 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. American International Group has a 52-week low of $45.66 and a 52-week high of $67.78. The firm has a 50 day moving average price of $64.08 and a two-hundred day moving average price of $60.88. The stock has a market cap of $46.99 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02.

American International Group (NYSE:AIG – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.06. American International Group had a net margin of 7.87% and a return on equity of 10.66%. The company had revenue of $12.77 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the prior year, the company posted $0.66 earnings per share. As a group, equities analysts forecast that American International Group will post 6.58 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, December 13th. American International Group’s payout ratio is 27.59%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 50,000,000 shares of American International Group stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the completion of the transaction, the insider now directly owns 365,413,892 shares of the company’s stock, valued at $7,490,984,786. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by insiders.

Institutional Trading of American International Group

Large investors have recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in shares of American International Group during the third quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in shares of American International Group during the third quarter valued at $32,000. Avalon Trust Co purchased a new stake in shares of American International Group during the first quarter valued at $28,000. CNB Bank purchased a new stake in American International Group in the third quarter worth about $42,000. Finally, SouthState Corp lifted its stake in American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 217 shares during the period. 88.57% 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 General Insurance, and Life and Retirement segments. 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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