American International Group (NYSE:AIG) Price Target Cut to $87.00 by Analysts at Keefe, Bruyette & Woods

American International Group (NYSE:AIG) had its price target lowered by Keefe, Bruyette & Woods from $88.00 to $87.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

A number of other research analysts also recently commented on AIG. Piper Sandler dropped their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Barclays initiated coverage on American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. Finally, Wells Fargo & Company decreased their price target on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, American International Group currently has an average rating of “Moderate Buy” and an average target price of $84.13.

American International Group Stock Performance

Shares of AIG stock opened at $74.87 on Tuesday. The company has a market cap of $48.21 billion, a P/E ratio of -22.09, a PEG ratio of 7.47 and a beta of 1.05. The firm has a fifty day moving average price of $75.12 and a 200 day moving average price of $75.68. 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 has a 12 month low of $63.35 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.49% and a negative net margin of 6.19%. During the same quarter last year, the company earned $1.61 EPS. Sell-side analysts predict that American International Group will post 5.14 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.14%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. 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 is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

Several large investors have recently modified their holdings of the business. Forum Financial Management LP grew its stake in shares of American International Group by 1.1% during 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 in the last quarter. Quent Capital LLC grew its stake in American International Group by 4.0% in the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 146 shares in the last quarter. EagleClaw Capital Managment LLC grew its stake in American International Group by 0.5% in the third quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock worth $2,225,000 after purchasing an additional 150 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in 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 worth $477,000 after purchasing an additional 165 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in American International Group by 4.9% during the first quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock worth $276,000 after purchasing an additional 165 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.