American International Group (NYSE:AIG) Price Target Raised to $89.00 at Piper Sandler

American International Group (NYSE:AIG - Free Report) had its target price upped by Piper Sandler from $87.00 to $89.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the insurance provider's stock.

A number of other analysts have also recently weighed in on the stock. Bank of America cut shares of American International Group from a buy rating to a neutral rating and increased their price objective for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. Keefe, Bruyette & Woods raised their price target on shares of American International Group from $82.00 to $86.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Citigroup boosted their price objective on American International Group from $79.00 to $87.00 and gave the stock a buy rating in a research report on Tuesday. HSBC assumed coverage on American International Group in a research report on Thursday, December 28th. They issued a buy rating and a $86.00 target price on the stock. Finally, BMO Capital Markets reduced their price target on American International Group from $83.00 to $81.00 and set an outperform rating for the company in a research report on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $79.18.

American International Group Stock Performance

Shares of NYSE AIG traded up $1.24 during midday trading on Friday, hitting $74.23. The company's stock had a trading volume of 3,477,742 shares, compared to its average volume of 3,981,875. The firm has a market cap of $50.55 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.03 and a beta of 1.03. The firm's fifty day moving average price is $74.10 and its 200-day moving average price is $68.33. American International Group has a 1-year low of $48.95 and a 1-year high of $78.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the business posted $1.36 EPS. The business's revenue was up .0% on a year-over-year basis. On average, sell-side analysts forecast that American International Group will post 7.03 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. American International Group's dividend payout ratio (DPR) is presently 28.86%.

Insider Transactions at American International Group

In related news, CEO Peter Zaffino sold 333,000 shares of American International Group 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 transaction, the chief executive officer now owns 505,420 shares of the company's stock, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of the company'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 owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Inglis acquired 659 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was purchased 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. Corporate insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIG. Norges Bank acquired a new stake in shares of American International Group during the 4th quarter valued at $736,063,000. Morgan Stanley boosted its position in American International Group by 55.1% during the fourth quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider's stock valued at $665,247,000 after purchasing an additional 3,738,346 shares during the last quarter. Sessa Capital IM L.P. purchased a new position in American International Group in the first quarter valued at about $73,040,000. Deutsche Bank AG increased its position in American International Group by 58.1% in the 1st quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider's stock worth $185,677,000 after purchasing an additional 1,354,652 shares during the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in shares of American International Group during the 1st quarter worth about $57,511,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.