American International Group (NYSE:AIG) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of American International Group (NYSE:AIG) from a neutral rating to an overweight rating in a research note published on Thursday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $89.00 price objective on the insurance provider’s stock, down from their prior price objective of $93.00.

AIG has been the topic of several other reports. Citigroup decreased their price target on shares of American International Group from $89.00 to $87.00 and set a buy rating on the stock in a research note on Tuesday, July 23rd. Barclays assumed coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an overweight rating and a $90.00 target price for the company. Keefe, Bruyette & Woods reduced their price target on American International Group from $96.00 to $90.00 and set an outperform rating on the stock in a research note on Monday, August 12th. Morgan Stanley lowered their price objective on American International Group from $82.00 to $80.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen decreased their price target on American International Group from $83.00 to $80.00 and set a hold rating on the stock in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $84.50.

American International Group Price Performance

AIG stock opened at $77.23 on Thursday. The stock’s 50 day moving average price is $73.76 and its 200 day moving average price is $75.50. The firm has a market cap of $49.73 billion, a P/E ratio of -59.87, a PEG ratio of 3.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group has a 1 year low of $58.69 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.75 earnings per share. On average, sell-side analysts expect that American International Group will post 5.09 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s payout ratio is -124.03%.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after acquiring an additional 44,797 shares in the last quarter. OFI Invest Asset Management boosted its stake in shares of American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after buying an additional 9,805 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after buying an additional 11,149 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of American International Group during the first quarter worth approximately $1,367,000. Finally, Illinois Municipal Retirement Fund increased its stake in shares of American International Group by 19.0% in the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock worth $12,206,000 after buying an additional 24,906 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

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.