American International Group’s (AIG) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods

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

Other equities research analysts also recently issued reports about the company. HSBC downgraded American International Group from a buy rating to a hold rating and set a $86.00 price target for the company. in a report on Wednesday, May 15th. Wells Fargo & Company increased their target price on shares of American International Group from $80.00 to $82.00 and gave the stock an equal weight rating in a report on Friday, May 10th. Citigroup lifted their price target on shares of American International Group from $79.00 to $87.00 and gave the company a buy rating in a report on Tuesday, April 16th. Evercore ISI cut their target price on shares of American International Group from $81.00 to $78.00 and set an in-line rating on the stock in a report on Thursday. Finally, BMO Capital Markets upped their target price on American International Group from $88.00 to $89.00 and gave the company an outperform rating in a report on Monday, May 13th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $81.38.

American International Group Stock Up 0.6 %

AIG stock opened at $74.97 on Thursday. The company has a market capitalization of $49.76 billion, a P/E ratio of 11.19, a PEG ratio of 2.05 and a beta of 1.08. The firm has a 50 day simple moving average of $76.71 and a 200-day simple moving average of $73.14. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group has a twelve month low of $55.68 and a twelve month high of $80.83.

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

American International Group announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.13%. This is a boost 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

In related news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the completion of the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

A number of institutional investors and hedge funds have recently modified their holdings of AIG. Rise Advisors LLC purchased a new stake in American International Group during the first quarter valued at about $29,000. Valued Wealth Advisors LLC boosted its stake in American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the period. CENTRAL TRUST Co grew its position in American International Group by 123.8% during the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 250 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in American International Group during the 4th quarter valued at $40,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of American International Group in the fourth quarter valued at $40,000. 90.60% of the stock is owned by institutional investors and hedge funds.

About American International Group

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.