American International Group (NYSE:AIG) Reaches New 1-Year High – Still a Buy?

American International Group, Inc. (NYSE:AIG)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $85.11 and last traded at $84.73, with a volume of 139758 shares trading hands. The stock had previously closed at $83.92.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price target on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Morgan Stanley increased their target price on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.31.

American International Group Stock Up 0.5 %

The stock has a market cap of $50.19 billion, a PE ratio of -40.67, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $78.36 and a 200 day moving average of $75.83.

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

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice bought 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AIG. Kingsview Wealth Management LLC raised its stake in American International Group by 6.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,209 shares of the insurance provider’s stock valued at $528,000 after acquiring an additional 423 shares during the last quarter. Fisher Asset Management LLC purchased a new position in American International Group during the 3rd quarter worth $291,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of American International Group in the 3rd quarter worth $599,000. Independent Advisor Alliance increased its stake in shares of American International Group by 1.6% during the third quarter. Independent Advisor Alliance now owns 10,393 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 161 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in American International Group by 2.7% during the third quarter. The Manufacturers Life Insurance Company now owns 792,181 shares of the insurance provider’s stock worth $58,011,000 after purchasing an additional 20,545 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other 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.