Keefe, Bruyette & Woods Reaffirms “Outperform” Rating for American International Group (NYSE:AIG)

Keefe, Bruyette & Woods reissued their outperform rating on shares of American International Group (NYSE:AIG) in a research report report published on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a $87.00 price objective on the insurance provider’s stock.

AIG has been the subject of several other reports. Evercore ISI cut their price objective on shares of American International Group from $81.00 to $78.00 and set an in-line rating for the company in a research report on Thursday. Morgan Stanley increased their price objective on American International Group from $72.00 to $79.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of American International Group from $73.00 to $80.00 and gave the company a neutral rating in a research note on Monday, April 8th. BMO Capital Markets lifted their price objective on shares of American International Group from $88.00 to $89.00 and gave the stock an outperform rating in a research note on Monday, May 13th. Finally, Piper Sandler increased their target price on shares of American International Group from $87.00 to $89.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $81.38.

American International Group Stock Down 1.0 %

Shares of AIG stock opened at $74.24 on Thursday. American International Group has a 52-week low of $56.55 and a 52-week high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $49.27 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 2.06 and a beta of 1.08. The firm’s 50-day moving average is $76.75 and its 200-day moving average is $73.26.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The business had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same period in the previous year, the firm earned $1.63 EPS. Sell-side analysts predict that American International Group will post 7.02 EPS for the current year.

American International Group declared that its Board of Directors has approved a share buyback plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the transaction, the insider now owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On American International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hamilton Wealth LLC bought a new stake in shares of American International Group in the first quarter worth $366,000. DekaBank Deutsche Girozentrale grew its position in shares of American International Group by 8.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after buying an additional 10,581 shares during the last quarter. Soltis Investment Advisors LLC increased its stake in shares of American International Group by 12.9% in the first quarter. Soltis Investment Advisors LLC now owns 63,177 shares of the insurance provider’s stock valued at $4,939,000 after buying an additional 7,212 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of American International Group by 431.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 333,587 shares of the insurance provider’s stock worth $26,076,000 after acquiring an additional 270,857 shares during the last quarter. Finally, Cetera Advisors LLC lifted its stake in shares of American International Group by 80.9% in the first quarter. Cetera Advisors LLC now owns 9,224 shares of the insurance provider’s stock worth $721,000 after acquiring an additional 4,124 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.