UBS Group Increases American International Group (NYSE:AIG) Price Target to $88.00

American International Group (NYSE:AIG) had its price target raised by UBS Group from $84.00 to $88.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on AIG. BMO Capital Markets lowered shares of American International Group from an outperform rating to a market perform rating and cut their price objective for the company from $90.00 to $84.00 in a research report on Tuesday. StockNews.com lowered shares of American International Group from a hold rating to a sell rating in a research report on Monday, August 5th. Royal Bank of Canada reaffirmed an outperform rating and set a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price target on shares of American International Group from $96.00 to $90.00 and set an outperform rating for the company in a research report on Monday, August 12th. Finally, Wells Fargo & Company dropped their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $84.38.

American International Group Stock Performance

NYSE:AIG opened at $76.98 on Tuesday. The firm has a 50 day simple moving average of $74.03 and a 200-day simple moving average of $75.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $51.09 billion, a PE ratio of 11.49, a P/E/G ratio of 3.88 and a beta of 1.06. American International Group has a 1-year low of $58.69 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 EPS. On average, equities analysts expect that American International Group will post 5.09 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Insider Activity

In other news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Forum Financial Management LP boosted its stake in shares of American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of American International Group by 5.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after purchasing an additional 136 shares during the period. Quent Capital LLC boosted its stake in shares of American International Group by 4.0% in the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 146 shares during the period. New Republic Capital LLC boosted its stake in American International Group by 5.2% during the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 164 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in American International Group by 2.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after acquiring an additional 165 shares during the last quarter. 90.60% of the stock is currently 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.