American International Group (NYSE:AIG) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of American International Group (NYSE:AIG) in a report issued on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $87.00 price target on the insurance provider’s stock.

Several other equities analysts also recently commented on the stock. Evercore ISI cut their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Piper Sandler cut their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America increased their price target on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reduced their target price on 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. Eight 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 has an average rating of “Moderate Buy” and an average price target of $84.31.

American International Group Price Performance

NYSE:AIG opened at $75.58 on Wednesday. The firm has a market capitalization of $48.67 billion, a price-to-earnings ratio of -22.29, a PEG ratio of 7.65 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $75.15 and a 200-day simple moving average of $75.66. American International Group has a 1 year low of $62.75 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.49% and a negative net margin of 6.19%. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company earned $1.61 earnings per share. Equities analysts forecast that American International Group will post 5.11 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. American International Group’s payout ratio is presently -47.20%.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc purchased a new position in American International Group in the third quarter valued at about $26,000. Y.D. More Investments Ltd purchased a new position in shares of American International Group in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC grew its position in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in American International Group in the third quarter valued at approximately $46,000. 90.60% of the stock is owned by 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.