Zacks Investment Research lowered shares of American International Group, Inc. (NYSE:AIG) from a hold rating to a sell rating in a research report sent to investors on Tuesday, October 17th.
According to Zacks, “AIG's shares have underperformed the industry year to date. Its weak commercial lines business remains a drag. Adverse reserve development and exposure to catastrophe are the other headwinds. Decling topline is another major concern. Regulators have removed the company from SIFI tag which brings geater capital flexibility to the company. Several turnaround measures undertaken by the company like strategic divestitures, asset sales, increasing share buybacks, dividend hikes, personnel changes, cost control, reinsurance deals, and lowering of hedge fund investments are expected to deliver strong earnings by curbing volatility. Though some of these efforts have paid off, many more reforms are required for a turnaround.”
Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of American International Group from a hold rating to a sell rating in a research note on Monday, July 24th. Bank of America Corporation decreased their price objective on shares of American International Group from $71.00 to $69.00 and set a buy rating for the company in a research note on Tuesday, October 10th. Morgan Stanley reaffirmed a buy rating on shares of American International Group in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $75.00 price target on shares of American International Group in a research note on Friday, October 6th. Finally, Barclays PLC cut their price objective on shares of American International Group from $74.00 to $71.00 and set an overweight rating on the stock in a report on Monday, October 16th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $68.18.
American International Group (NYSE:AIG) traded up $0.49 during trading on Tuesday, hitting $62.49. The company had a trading volume of 4,813,160 shares, compared to its average volume of 5,000,000. The stock has a market cap of $56,300.00, a P/E ratio of 24.70, a P/E/G ratio of 1.67 and a beta of 1.23. American International Group has a 52 week low of $57.37 and a 52 week high of $67.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.27 and a quick ratio of 0.27.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.22) EPS for the quarter, missing the consensus estimate of $1.23 by ($2.45). American International Group had a positive return on equity of 3.41% and a negative net margin of 5.07%. The company had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.05 billion. During the same quarter last year, the company earned $1.23 earnings per share. research analysts predict that American International Group will post 3.37 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, December 7th. American International Group’s dividend payout ratio (DPR) is -800.00%.
A number of hedge funds have recently made changes to their positions in AIG. Israel Discount Bank of New York bought a new stake in American International Group during the first quarter valued at $145,000. Peddock Capital Advisors LLC grew its position in American International Group by 100.0% in the 2nd quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in American International Group by 30.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock valued at $192,000 after buying an additional 716 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in American International Group in the 3rd quarter valued at about $200,000. Finally, Signaturefd LLC bought a new position in American International Group in the 1st quarter valued at about $202,000. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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