American International Group (NYSE:AIG) Given New $86.00 Price Target at Bank of America

American International Group (NYSE:AIG) had its price target upped by Bank of America from $82.00 to $86.00 in a research report report published on Thursday, Benzinga reports. Bank of America currently has a neutral rating on the insurance provider’s stock.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. raised shares of American International Group from a neutral rating to an overweight rating and lowered their target price for the company from $93.00 to $89.00 in a research note on Thursday. BMO Capital Markets raised 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. Citigroup cut their target price on American International Group from $89.00 to $87.00 and set a buy rating for the company in a research report on Tuesday, July 23rd. StockNews.com lowered American International Group from a hold rating to a sell rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group upped 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $84.50.

American International Group Stock Performance

Shares of AIG stock traded up $1.26 during trading hours on Thursday, reaching $77.79. The stock had a trading volume of 391,541 shares, compared to its average volume of 4,135,146. American International Group has a twelve month low of $58.69 and a twelve month 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. The firm has a market capitalization of $50.09 billion, a PE ratio of -59.31, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The firm has a 50-day simple moving average of $73.66 and a 200-day simple moving average of $75.51.

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

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s payout ratio is -124.03%.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 directly owns 279,238,898 shares in the company, 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 SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in American International Group by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after acquiring an additional 269,188 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in American International Group by 0.6% in the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after purchasing an additional 31,340 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in American International Group by 6.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock worth $233,743,000 after buying an additional 198,889 shares during the last quarter. APG Asset Management N.V. raised its holdings in American International Group by 13.3% during the second quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after buying an additional 258,700 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of American International Group by 98.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after buying an additional 941,607 shares during the last quarter. Institutional investors and hedge funds 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.