Royal Bank of Canada Reiterates Outperform Rating for American International Group (NYSE:AIG)

Royal Bank of Canada reissued their outperform rating on shares of American International Group (NYSE:AIG) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $87.00 price target on the insurance provider’s stock.

A number of other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Morgan Stanley reduced their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen cut their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Finally, BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.31.

American International Group Stock Performance

NYSE AIG opened at $75.60 on Wednesday. American International Group has a twelve month low of $62.75 and a twelve month high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock has a market cap of $48.68 billion, a P/E ratio of -22.30, a PEG ratio of 5.26 and a beta of 1.05. The company’s 50-day simple moving average is $75.15 and its 200 day simple moving average is $75.66.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.49% and a negative net margin of 6.19%. During the same period in the prior year, the company posted $1.61 EPS. As a group, research analysts forecast that American International Group will post 4.99 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 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 (DPR) is presently -47.20%.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. 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 is accessible through the SEC website. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On American International Group

A number of hedge funds have recently modified their holdings of AIG. Swedbank AB bought a new stake in American International Group during the 1st quarter worth approximately $99,951,000. Canada Pension Plan Investment Board increased its position in shares of American International Group by 98.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after acquiring an additional 941,607 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of American International Group by 5.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after acquiring an additional 722,237 shares in the last quarter. Bank of Montreal Can lifted its position in American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after acquiring an additional 597,765 shares in the last quarter. Finally, Senator Investment Group LP boosted its stake in American International Group by 41.0% in the 1st quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after purchasing an additional 441,048 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

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.