American International Group (NYSE:AIG) Price Target Raised to $88.00 at Jefferies Financial Group

American International Group (NYSE:AIG) had its target price lifted by Jefferies Financial Group from $82.00 to $88.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

Several other analysts have also recently weighed in on the company. BMO Capital Markets raised their price target on American International Group from $87.00 to $90.00 and gave the company an outperform rating in a report on Friday, October 4th. Royal Bank of Canada reissued an outperform rating and issued a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. Evercore ISI lowered their price objective on shares of American International Group from $79.00 to $78.00 and set an in-line rating on the stock in a research report on Wednesday. Wells Fargo & Company cut their target price on shares of American International Group from $79.00 to $77.00 and set an equal weight rating for the company in a research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods lowered their price target on American International Group from $96.00 to $90.00 and set an outperform rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American International Group presently has a consensus rating of Hold and an average target price of $84.50.

American International Group Price Performance

Shares of NYSE:AIG opened at $75.59 on Wednesday. The company has a 50 day moving average of $73.70 and a 200 day moving average of $75.50. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock has a market cap of $50.17 billion, a P/E ratio of 11.28, a P/E/G ratio of 3.70 and a beta of 1.06. American International Group has a 12 month low of $58.69 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that American International Group will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. American International Group’s dividend payout ratio is currently 23.88%.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of American International Group stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the sale, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On American International Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Christopher J. Hasenberg Inc bought a new position in American International Group in the third quarter worth about $26,000. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the second quarter valued at approximately $27,000. Fortitude Family Office LLC grew its stake in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares during the period. Valued Wealth Advisors LLC raised its holdings in American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in American International Group during the first quarter valued at $29,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.