American International Group (NYSE:AIG) Trading Up 3% – Time to Buy?

American International Group, Inc. (NYSE:AIG)’s share price was up 3% on Monday . The company traded as high as $86.37 and last traded at $86.12. Approximately 971,610 shares were traded during trading, a decline of 78% from the average daily volume of 4,320,846 shares. The stock had previously closed at $83.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AIG shares. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Keefe, Bruyette & Woods upped their target price on American International Group from $90.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday. Evercore ISI boosted their price target on shares of American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday, March 13th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average target price of $86.00.

American International Group Stock Down 0.3 %

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market cap of $51.43 billion, a P/E ratio of -41.68, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The firm’s 50 day moving average is $79.00 and its two-hundred day moving average is $76.15.

American International Group (NYSE:AIG) last posted 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%. As a group, research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio is -76.92%.

Insider Transactions at American International Group

In related news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Several hedge funds and other institutional investors have recently made changes to their positions in AIG. Duncker Streett & Co. Inc. bought a new stake in shares of American International Group in the 4th quarter valued at about $25,000. Asset Planning Inc acquired a new position in American International Group in the 4th quarter valued at about $26,000. Ameriflex Group Inc. acquired a new stake in 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, Whipplewood Advisors LLC bought a new position in shares of American International Group during the fourth quarter worth approximately $40,000. 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.