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 during trading on Friday . The company traded as high as $81.29 and last traded at $81.52, with a volume of 460107 shares traded. The stock had previously closed at $79.69.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of research reports. UBS Group reduced their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company lifted their target price on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley boosted their price target on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.94.

American International Group Price Performance

The firm’s 50-day moving average is $74.30 and its 200-day moving average is $74.69. The company has a market capitalization of $49.17 billion, a PE ratio of -39.84, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. 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 posted 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 negative net margin of 4.25% and a positive return on equity of 8.01%. Equities analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

Insider Buying and Selling

In related news, Director John G. Rice purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently bought and sold shares of the stock. Snowden Capital Advisors LLC grew its holdings in American International Group by 1.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider’s stock worth $769,000 after purchasing an additional 146 shares during the period. Catalina Capital Group LLC grew its holdings in American International Group by 5.1% in the fourth quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock worth $222,000 after purchasing an additional 148 shares during the period. EagleClaw Capital Managment LLC grew its holdings in American International Group by 0.5% in the third quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock worth $2,225,000 after purchasing an additional 150 shares during the period. Laird Norton Wetherby Wealth Management LLC grew its holdings in American International Group by 1.8% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider’s stock worth $641,000 after purchasing an additional 152 shares during the period. Finally, Pitcairn Co. grew its holdings in American International Group by 2.2% in the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock worth $536,000 after purchasing an additional 158 shares during the period. 90.60% of the stock is owned by 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.