American International Group (NYSE:AIG) Reaches New 1-Year High After Analyst Upgrade

American International Group, Inc. (NYSE:AIG - Get Free Report)'s stock price hit a new 52-week high on Friday after Wells Fargo & Company raised their price target on the stock from $80.00 to $82.00. Wells Fargo & Company currently has an equal weight rating on the stock. American International Group traded as high as $80.78 and last traded at $80.72, with a volume of 263100 shares. The stock had previously closed at $79.88.

Other analysts have also issued research reports about the stock. UBS Group boosted their price target on shares of American International Group from $83.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. BMO Capital Markets dropped their target price on American International Group from $83.00 to $81.00 and set an "outperform" rating on the stock in a research report on Thursday, February 15th. Citigroup lifted their price target on American International Group from $79.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Piper Sandler increased their price objective on American International Group from $87.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their target price on American International Group from $73.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, American International Group currently has an average rating of "Moderate Buy" and a consensus target price of $80.56.

Insider Activity at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the company's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Peter Zaffino sold 333,000 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John C. Inglis acquired 659 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On American International Group

Several institutional investors have recently bought and sold shares of the stock. Valued Wealth Advisors LLC boosted its stake in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 276 shares during the period. Rise Advisors LLC purchased a new stake in American International Group during the 1st quarter valued at $29,000. OFI Invest Asset Management bought a new stake in American International Group in the 3rd quarter worth $26,000. CENTRAL TRUST Co increased its position in shares of American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 250 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of American International Group during the third quarter valued at about $32,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 0.3 %

The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $53.17 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.02. The stock's fifty day moving average price is $76.02 and its two-hundred day moving average price is $69.98.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same period last year, the company earned $1.63 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 7.05 earnings per share for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This is a positive change from American International Group's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.00%. American International Group's dividend payout ratio is 21.49%.

American International Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.