Investors purchased shares of American International Group Inc. (NYSE:AIG) on weakness during trading hours on Friday. $658.71 million flowed into the stock on the tick-up and $93.83 million flowed out of the stock on the tick-down, for a money net flow of $564.88 million into the stock. Of all companies tracked, American International Group had the 5th highest net in-flow for the day. American International Group traded down ($0.69) for the day and closed at $57.90
A number of equities analysts have recently weighed in on the stock. Credit Suisse Group AG set a $60.00 price objective on shares of American International Group and gave the company a “hold” rating in a research report on Monday, September 12th. BMO Capital Markets boosted their price objective on shares of American International Group from $58.86 to $64.00 and gave the company a “market perform” rating in a research report on Monday, August 22nd. Deutsche Bank AG boosted their price objective on shares of American International Group from $59.00 to $61.00 and gave the company a “hold” rating in a research report on Thursday, August 11th. Goldman Sachs Group Inc. upgraded shares of American International Group from a “buy” rating to a “conviction-buy” rating and set a $68.00 target price for the company in a report on Monday, August 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of American International Group from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $64.75.
The company has a 50-day moving average of $58.57 and a 200-day moving average of $55.49. The stock’s market capitalization is $61.99 billion.
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American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, August 2nd. The insurance provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. American International Group had a positive return on equity of 1.33% and a negative net margin of 0.64%. During the same quarter in the prior year, the firm earned $1.39 EPS. Equities research analysts expect that American International Group Inc. will post $4.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.28 annualized dividend and a yield of 2.21%. American International Group’s dividend payout ratio (DPR) is presently -799.95%.
Institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its stake in shares of American International Group by 23.7% in the second quarter. Capital Research Global Investors now owns 69,710,055 shares of the insurance provider’s stock valued at $3,686,965,000 after buying an additional 13,367,970 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of American International Group by 4,949.7% in the second quarter. Cohen & Steers Inc. now owns 8,603,093 shares of the insurance provider’s stock valued at $454,846,000 after buying an additional 8,432,725 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in shares of American International Group during the first quarter valued at about $215,015,000. Emerald Acquisition Ltd. bought a new stake in shares of American International Group during the second quarter valued at about $143,219,000. Finally, TIAA CREF Investment Management LLC increased its stake in shares of American International Group by 50.6% in the first quarter. TIAA CREF Investment Management LLC now owns 6,083,220 shares of the insurance provider’s stock valued at $328,798,000 after buying an additional 2,045,181 shares during the last quarter. Institutional investors own 84.91% of the company’s stock.
About American International Group
American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.
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