Evercore ISI Lowers American International Group (NYSE:AIG) Price Target to $78.00

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

A number of other equities research analysts have also recently commented on the stock. TD Cowen decreased their target price on shares of American International Group from $83.00 to $80.00 and set a hold rating on the stock in a research note on Tuesday, August 13th. Morgan Stanley lowered 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 note on Wednesday, July 10th. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $96.00 to $90.00 and set an outperform rating for the company in a report on Monday, August 12th. Wells Fargo & Company decreased their price target on American International Group from $79.00 to $77.00 and set an equal weight rating on the stock in a report on Friday, August 9th. Finally, Bank of America upped their price objective on American International Group from $81.00 to $82.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, American International Group presently has a consensus rating of Moderate Buy and a consensus target price of $84.50.

American International Group Trading Up 0.9 %

Shares of AIG stock opened at $77.23 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $49.73 billion, a price-to-earnings ratio of -59.87, a PEG ratio of 3.88 and a beta of 1.06. American International Group has a 1 year low of $58.69 and a 1 year high of $80.83. The firm has a fifty day moving average price of $73.76 and a 200-day moving average price of $75.50.

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

American International Group Announces Dividend

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

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by company insiders.

Institutional Trading of American International Group

A number of institutional investors have recently bought and sold shares of AIG. Forum Financial Management LP raised its stake in shares of American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after acquiring an additional 128 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after purchasing an additional 136 shares during the last quarter. Quent Capital LLC grew its holdings in American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 146 shares during the last quarter. New Republic Capital LLC lifted its stake in American International Group by 5.2% in the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 164 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of American International Group by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the period. 90.60% of the stock is currently owned by institutional investors.

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.