American International Group (NYSE:AIG) Reaches New 52-Week High After Analyst Upgrade


American International Group, Inc. (NYSE:AIGGet Free Report)’s share price reached a new 52-week high during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $72.00 to $76.00. Royal Bank of Canada currently has an outperform rating on the stock. American International Group traded as high as $67.78 and last traded at $67.72, with a volume of 823323 shares trading hands. The stock had previously closed at $67.44.

Several other equities research analysts also recently weighed in on AIG. Argus raised shares of American International Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, November 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of American International Group in a research note on Wednesday, October 4th. They issued a “buy” rating and a $79.00 target price on the stock. StockNews.com started coverage on shares of American International Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley increased their target price on shares of American International Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. Finally, Wells Fargo & Company upped their price target on shares of American International Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 17th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

Get Our Latest Research Report on American International Group

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 50,000,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the transaction, the insider now directly owns 365,413,892 shares in the company, valued at approximately $7,490,984,786. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of American International Group in the 3rd quarter valued at about $26,000. Avalon Trust Co bought a new stake in shares of American International Group in the 1st quarter valued at about $28,000. Headlands Technologies LLC bought a new stake in shares of American International Group in the 3rd quarter valued at about $32,000. CNB Bank bought a new stake in shares of American International Group in the 3rd quarter valued at about $42,000. Finally, SouthState Corp boosted its holdings in shares of American International Group by 41.7% in the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after buying an additional 217 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

American International Group Stock Up 0.4 %

The firm has a market capitalization of $47.52 billion, a P/E ratio of 12.87, a PEG ratio of 1.01 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The business’s fifty day moving average price is $63.63 and its two-hundred day moving average price is $60.58.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings results on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The business had revenue of $12.77 billion for the quarter, compared to analysts’ expectations of $12.62 billion. American International Group had a net margin of 7.87% and a return on equity of 10.66%. During the same period last year, the business earned $0.66 EPS. Equities analysts expect that American International Group, Inc. will post 6.58 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, December 13th. American International Group’s payout ratio is currently 27.59%.

About American International Group (Get Free Report)

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through General Insurance, and Life and Retirement segments. 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.

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Original: MarketBeat News Feed: American International Group (NYSE:AIG) Reaches New 52-Week High After Analyst Upgrade