American International Group (NYSE:AIG) Hits New 1-Year High After Analyst Upgrade

Shares of American International Group, Inc. (NYSE:AIG - Get Free Report) hit a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $76.00 to $82.00. Morgan Stanley currently has an equal weight rating on the stock. American International Group traded as high as $87.51 and last traded at $87.01, with a volume of 9834056 shares trading hands. The stock had previously closed at $83.62.

Several other brokerages also recently commented on AIG. JPMorgan Chase & Co. dropped their price objective on American International Group from $89.00 to $83.00 and set an "overweight" rating on the stock in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their price target on American International Group to $91.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays boosted their price objective on American International Group from $90.00 to $98.00 and gave the company an "overweight" rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $90.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, BMO Capital Markets upped their price target on shares of American International Group from $75.00 to $83.00 and gave the company a "market perform" rating in a report on Thursday, March 13th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.12.

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Insiders Place Their Bets

In other news, Director John G. Rice purchased 10,000 shares of the business's stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On American International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIG. Duncker Streett & Co. Inc. bought a new stake in shares of American International Group during the 4th quarter worth about $25,000. Asset Planning Inc acquired a new stake in American International Group during the fourth quarter worth approximately $26,000. Ameriflex Group Inc. bought a new stake in shares of American International Group during the fourth quarter worth approximately $29,000. BankPlus Trust Department acquired a new position in shares of American International Group in the fourth quarter valued at approximately $36,000. Finally, Continuum Advisory LLC increased its stake in shares of American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider's stock worth $42,000 after purchasing an additional 207 shares during the period. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

The company has a fifty day moving average of $79.49 and a two-hundred day moving average of $76.30. The firm has a market capitalization of $47.23 billion, a price-to-earnings ratio of -38.36, a PEG ratio of 1.01 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, March 17th. American International Group's dividend payout ratio (DPR) is currently -76.92%.

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.