American International Group, Inc. (NYSE:AIG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• American International Group, Inc. (NYSE:AIG) received a consensus recommendation of "Moderate Buy" from 18 brokerages, with an average target price of $88.27.
• In its latest quarterly earnings, AIG reported $1.81 EPS, surpassing estimates by $0.21, while revenue was slightly below expectations at $6.77 billion.
• The company recently announced a quarterly dividend of $0.45 per share, representing a 2.2% yield and a payout ratio of 34.09%.

American International Group, Inc. (NYSE:AIG - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $88.2667.

A number of research firms have recently issued reports on AIG. William Blair raised American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Morgan Stanley raised their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Citigroup started coverage on American International Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price target for the company. Finally, Barclays lifted their price target on American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd.

Institutional Trading of American International Group

Several hedge funds have recently added to or reduced their stakes in the company. GQG Partners LLC lifted its holdings in American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after purchasing an additional 18,852,949 shares during the last quarter. Franklin Resources Inc. lifted its holdings in American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider's stock worth $1,072,969,000 after purchasing an additional 716,209 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock worth $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. Norges Bank acquired a new stake in American International Group during the 2nd quarter worth approximately $787,724,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider's stock worth $792,340,000 after acquiring an additional 1,694,290 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

AIG opened at $83.3360 on Monday. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07. The stock has a market cap of $46.17 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 0.89 and a beta of 0.63. The business has a 50 day moving average of $81.52 and a 200-day moving average of $81.70. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same period last year, the firm posted $1.16 earnings per share. On average, equities research analysts expect that American International Group will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is presently 34.09%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.