American International Group (NYSE:AIG) Shares Gap Up After Analyst Upgrade

American International Group, Inc. (NYSE:AIG)’s stock price gapped up before the market opened on Thursday after Bank of America raised their price target on the stock from $82.00 to $86.00. The stock had previously closed at $75.60, but opened at $77.39. Bank of America currently has a neutral rating on the stock. American International Group shares last traded at $76.69, with a volume of 207,770 shares changing hands.

A number of other equities analysts have also recently issued reports on AIG. BMO Capital Markets increased their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Tuesday, July 9th. Evercore ISI lowered their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods lowered their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, Jefferies Financial Group upped their target price on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday. One equities 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 data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

Institutional Trading of American International Group

A number of large investors have recently added to or reduced their stakes in AIG. DRW Securities LLC lifted its stake in shares of American International Group by 34.0% during the 4th quarter. DRW Securities LLC now owns 28,636 shares of the insurance provider’s stock worth $1,940,000 after buying an additional 7,273 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of American International Group during the 4th quarter worth about $40,000. Neo Ivy Capital Management acquired a new stake in shares of American International Group during the 4th quarter worth about $40,000. Integrated Advisors Network LLC lifted its stake in shares of American International Group by 8.1% during the 4th quarter. Integrated Advisors Network LLC now owns 16,277 shares of the insurance provider’s stock worth $1,103,000 after buying an additional 1,223 shares during the last quarter. Finally, Syon Capital LLC lifted its stake in shares of American International Group by 76.0% during the 4th quarter. Syon Capital LLC now owns 7,165 shares of the insurance provider’s stock worth $485,000 after buying an additional 3,093 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 0.9 %

The business’s 50 day moving average price is $73.66 and its 200-day moving average price is $75.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a market cap of $49.73 billion, a price-to-earnings ratio of -59.31, a PEG ratio of 3.88 and a beta of 1.06.

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

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, September 16th. American International Group’s dividend payout ratio (DPR) is -124.03%.

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.