American International Group (NYSE:AIG) PT Lowered to $78.00

American International Group (NYSE:AIG) had its price objective reduced by Evercore ISI from $79.00 to $78.00 in a research report report published on Wednesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the insurance provider’s stock.

A number of other brokerages have also weighed in on AIG. StockNews.com lowered American International Group from a hold rating to a sell rating in a research report on Monday, August 5th. Piper Sandler decreased their price objective on American International Group from $89.00 to $86.00 and set an overweight rating for the company in a report on Friday, August 2nd. Citigroup dropped their target price on shares of American International Group from $89.00 to $87.00 and set a buy rating on the stock in a report on Tuesday, July 23rd. Morgan Stanley cut their target price on shares of American International Group from $82.00 to $80.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Finally, TD Cowen lowered their price target on shares of American International Group from $83.00 to $80.00 and set a hold rating for the company in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, American International Group currently has a consensus rating of Moderate Buy and an average price target of $84.50.

American International Group Trading Up 0.9 %

NYSE AIG opened at $77.23 on Wednesday. The stock has a market cap of $49.73 billion, a PE ratio of -59.87, a PEG ratio of 3.88 and a beta of 1.06. American International Group has a 12 month low of $58.69 and a 12 month high of $80.83. The company’s 50-day moving average price is $73.76 and its 200-day moving average price is $75.50. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the company earned $1.75 earnings per share. American International Group’s revenue was up .0% on a year-over-year basis. Equities research analysts forecast that American International Group will post 5.09 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. American International Group’s payout ratio is -124.03%.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers increased its position in shares of American International Group by 348.6% in the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after acquiring an additional 44,797 shares during the period. OFI Invest Asset Management lifted its position in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares during the period. Bessemer Group Inc. grew its stake in American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after purchasing an additional 11,149 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new position in shares of American International Group in the first quarter valued at about $1,367,000. Finally, Illinois Municipal Retirement Fund raised its stake in shares of American International Group by 19.0% in the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock worth $12,206,000 after purchasing an additional 24,906 shares during the last quarter. Hedge funds and other institutional investors 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.