American International Group (NYSE:AIG) Shares Down 4.6% – Here’s Why

American International Group, Inc. (NYSE:AIG)’s share price fell 4.6% on Monday . The stock traded as low as $82.93 and last traded at $83.31. 1,258,505 shares were traded during mid-day trading, a decline of 71% from the average session volume of 4,402,486 shares. The stock had previously closed at $87.34.

Analysts Set New Price Targets

AIG has been the topic of a number of recent analyst reports. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. Barclays upped their price target on shares of American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on American International Group to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Finally, Evercore ISI upped their target price on American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.12.

American International Group Trading Down 2.2%

The stock’s 50 day moving average price is $82.50 and its 200-day moving average price is $78.60. The stock has a market capitalization of $49.25 billion, a P/E ratio of -41.14, a P/E/G ratio of 1.01 and a beta of 0.64. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same quarter last year, the company posted $1.25 earnings per share. As a group, equities research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, June 13th. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.11%. American International Group’s dividend payout ratio is -67.67%.

Insider Activity at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at $1,781,764. The trade was a 68.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its position in shares of American International Group by 1.4% during the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after purchasing an additional 482,724 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after buying an additional 1,791,964 shares in the last quarter. GQG Partners LLC grew its stake in American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after acquiring an additional 18,852,949 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after acquiring an additional 1,901,998 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

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.