American International Group (NYSE:AIG) Given “Buy” Rating at Wells Fargo & Co
A number of other research firms also recently issued reports on AIG. ValuEngine downgraded shares of American International Group from a sell rating to a strong sell rating in a research note on Tuesday, December 3rd. Evercore ISI initiated coverage on shares of American International Group in a research note on Thursday, October 17th. They set an in-line rating and a $54.00 price target on the stock. Finally, Citigroup initiated coverage on shares of American International Group in a research note on Tuesday, January 21st. They set a neutral rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. American International Group presently has a consensus rating of Buy and an average target price of $59.70.
American International Group stock traded down $2.45 during mid-day trading on Thursday, reaching $48.48. 11,890,599 shares of the company’s stock traded hands, compared to its average volume of 4,575,977. The company has a market cap of $47.10 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 1.07 and a beta of 1.12. The stock has a 50 day moving average of $51.82 and a two-hundred day moving average of $53.44. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. American International Group has a 12-month low of $40.54 and a 12-month high of $58.66.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, March 13th. American International Group’s dividend payout ratio is currently 109.40%.
Several institutional investors and hedge funds have recently made changes to their positions in AIG. Marshall Wace North America L.P. raised its stake in shares of American International Group by 13,994.6% in the fourth quarter. Marshall Wace North America L.P. now owns 1,323,483 shares of the insurance provider’s stock valued at $67,935,000 after acquiring an additional 1,314,093 shares during the period. UBS Asset Management Americas Inc. grew its stake in American International Group by 12.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 5,958,499 shares of the insurance provider’s stock valued at $305,850,000 after acquiring an additional 656,035 shares during the period. Marshall Wace LLP acquired a new stake in American International Group in the 4th quarter valued at $28,574,000. Voya Investment Management LLC grew its stake in American International Group by 115.1% in the 3rd quarter. Voya Investment Management LLC now owns 1,029,933 shares of the insurance provider’s stock valued at $57,367,000 after acquiring an additional 551,048 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its stake in American International Group by 119.6% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 997,355 shares of the insurance provider’s stock valued at $51,194,000 after acquiring an additional 543,235 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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