American International Group (NYSE:AIG – Free Report) had its price target lowered by Keefe, Bruyette & Woods from $96.00 to $90.00 in a research note released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.
A number of other brokerages have also issued reports on AIG. UBS Group upped their price target on shares of American International Group from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Royal Bank Of Canada lifted their price objective on shares of American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Barclays raised their target price on American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, HSBC lowered their price target on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.68.
Get Our Latest Report on American International Group
American International Group Price Performance
American International Group (NYSE:AIG – Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period last year, the firm posted $1.81 EPS. As a group, equities analysts forecast that American International Group will post 8.07 earnings per share for the current fiscal year.
American International Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 16th. American International Group’s dividend payout ratio (DPR) is currently 36.56%.
Insider Buying and Selling at American International Group
In other American International Group news, insider Peter Zaffino sold 200,000 shares of American International Group stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider owned 592,833 shares in the company, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock worth $2,260,622,000 after purchasing an additional 1,961,270 shares during the period. State Street Corp grew its position in American International Group by 0.8% during the second quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock valued at $1,871,852,000 after buying an additional 196,969 shares during the period. Bank of New York Mellon Corp increased its holdings in American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after buying an additional 474,035 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of American International Group in the second quarter worth about $464,539,000. Finally, Dimensional Fund Advisors LP raised its position in shares of American International Group by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock worth $462,147,000 after acquiring an additional 303,201 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
About American International Group
American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.
AIG serves customers through a network spanning approximately 190 countries and jurisdictions.
Further Reading
- Five stocks we like better than American International Group
- Tesla Wants to Make Its Own Chips—What Could Go Wrong?
- IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver?
- PBF Energy’s Stunning Rally Faces a Critical Test
- Citi Stock Falls Despite Earnings Beat: What Investors Need to Know
Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.
