Jefferies Financial Group Raises American International Group (NYSE:AIG) Price Target to $88.00

American International Group (NYSE:AIG) had its price target boosted by Jefferies Financial Group from $82.00 to $88.00 in a report issued on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the insurance provider’s stock.

AIG has been the topic of several other research reports. Royal Bank of Canada reaffirmed an outperform rating and issued a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. Piper Sandler lowered their target price on American International Group from $89.00 to $86.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Barclays initiated coverage on American International Group in a report on Wednesday, September 4th. They issued an overweight rating and a $90.00 price target for the company. JPMorgan Chase & Co. increased their price objective on American International Group from $80.00 to $93.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets boosted their target price on shares of American International Group from $87.00 to $90.00 and gave the company an outperform rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $84.50.

American International Group Stock Performance

NYSE AIG opened at $77.23 on Wednesday. The business has a 50 day moving average price of $73.76 and a 200 day moving average price of $75.51. The company has a market capitalization of $49.73 billion, a P/E ratio of -59.87, a PEG ratio of 3.88 and a beta of 1.06. American International Group has a 1-year low of $58.69 and a 1-year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the business earned $1.75 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that American International Group will post 5.09 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio is currently -124.03%.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AIG. Swedbank AB acquired a new stake in shares of American International Group in the first quarter worth $99,951,000. Canada Pension Plan Investment Board increased its holdings in American International Group by 98.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after purchasing an additional 941,607 shares in the last quarter. Bank of Montreal Can raised its position in American International Group by 83.6% in the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after purchasing an additional 597,765 shares during the period. Third Point LLC lifted its stake in shares of American International Group by 16.9% during the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock worth $233,738,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Senator Investment Group LP boosted its position in shares of American International Group by 41.0% in the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after buying an additional 441,048 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.