American International Group (NYSE:AIG) Sets New 12-Month High – Here’s Why

Shares of American International Group, Inc. (NYSE:AIG) hit a new 52-week high on Wednesday . The company traded as high as $85.11 and last traded at $84.73, with a volume of 139758 shares. The stock had previously closed at $83.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their price target on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Finally, HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and an average price target of $84.31.

American International Group Trading Up 0.5 %

The firm has a market cap of $50.19 billion, a price-to-earnings ratio of -40.67, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The business has a 50 day moving average of $78.36 and a 200 day moving average of $75.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.89%. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insiders Place Their Bets

In related news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Institutional investors have recently bought and sold shares of the stock. Duncker Streett & Co. Inc. acquired a new position in shares of American International Group in the 4th quarter valued at $25,000. Asset Planning Inc purchased a new position in shares of American International Group in the 4th quarter worth $26,000. True Wealth Design LLC acquired a new position in American International Group in the third quarter valued at $29,000. Ameriflex Group Inc. purchased a new stake in American International Group during the fourth quarter valued at about $29,000. Finally, BankPlus Trust Department acquired a new stake in American International Group during the fourth quarter worth about $36,000. 90.60% of the stock is currently owned by hedge funds and other 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.