American International Group (NYSE:AIG) Sets New 52-Week High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of 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. Morgan Stanley upped their price objective on shares of American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company upped 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. Finally, UBS Group lowered their price objective on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and an average target price of $84.31.

American International Group Price Performance

The stock has a market capitalization of $50.12 billion, a price-to-earnings ratio of -40.63, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The stock has a 50 day moving average price of $77.94 and a 200-day moving average price of $75.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 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%. On average, analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

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

Insider Buying and Selling

In related news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Artemis Investment Management LLP grew its stake in shares of American International Group by 115.9% in the fourth quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after acquiring an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in shares of American International Group by 5.2% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock worth $5,155,000 after buying an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of American International Group by 54.3% during the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after buying an additional 4,468 shares during the period. Merit Financial Group LLC acquired a new stake in American International Group in the fourth quarter valued at approximately $1,260,000. Finally, Williams & Novak LLC purchased a new position in American International Group in the fourth quarter worth approximately $279,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

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.