American International Group, Inc. (AIG) Price Target Cut to $64.00

American International Group, Inc. (NYSE:AIG) had its price objective lowered by UBS AG from $65.00 to $64.00 in a research report report published on Tuesday, www.benzinga.com reports. UBS AG currently has a neutral rating on the insurance provider’s stock.

A number of other equities research analysts have also recently issued reports on AIG. BidaskClub cut shares of American International Group from a hold rating to a sell rating in a research report on Sunday, August 13th. Atlantic Securities cut shares of American International Group from an overweight rating to a neutral rating and set a $70.00 price objective for the company. in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $75.00 price objective on shares of American International Group in a research report on Thursday, August 3rd. Deutsche Bank AG reaffirmed a sell rating and set a $60.00 price objective (up previously from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Finally, Wells Fargo & Company reaffirmed a buy rating on shares of American International Group in a research report on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $67.96.

Shares of American International Group (NYSE AIG) opened at 60.71 on Tuesday. The firm’s market cap is $54.85 billion. The company’s 50 day moving average is $61.67 and its 200-day moving average is $62.35. American International Group has a 12 month low of $57.35 and a 12 month high of $67.47.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.33. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same quarter in the previous year, the business posted $0.98 earnings per share. Equities research analysts predict that American International Group will post $5.28 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s dividend payout ratio is currently -711.07%.

Institutional investors have recently added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new position in shares of American International Group in the first quarter valued at approximately $145,000. Peddock Capital Advisors LLC increased its stake in shares of American International Group by 100.0% in the second 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 during the period. Chicago Partners Investment Group LLC increased its stake in shares of American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock valued at $165,000 after buying an additional 14 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of American International Group by 30.3% in the second 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 during the period. Finally, Signaturefd LLC acquired a new position in shares of American International Group in the first quarter valued at approximately $202,000. 83.97% of the stock is owned by 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.

Analyst Recommendations for American International Group (NYSE:AIG)

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