BMO Capital Markets Downgrades American International Group (NYSE:AIG) to Market Perform

BMO Capital Markets downgraded shares of American International Group (NYSE:AIG) from an outperform rating to a market perform rating in a research report report published on Tuesday, MarketBeat reports. BMO Capital Markets currently has $84.00 price objective on the insurance provider’s stock, down from their prior price objective of $90.00.

Other research analysts also recently issued research reports about the company. Piper Sandler lowered their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Evercore ISI lowered their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup lowered their target price on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.38.

American International Group Trading Up 2.7 %

Shares of American International Group stock opened at $79.20 on Tuesday. American International Group has a 1 year low of $58.69 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $52.56 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 3.88 and a beta of 1.06. The business has a fifty day simple moving average of $74.30 and a two-hundred day simple moving average of $75.51.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analyst estimates 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 for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned $1.75 EPS. Research analysts forecast that American International Group will post 5.09 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Institutional investors and hedge funds have recently modified their holdings of the business. SageView Advisory Group LLC bought a new position in shares of American International Group in the 4th quarter worth $208,000. HighPoint Advisor Group LLC bought a new position in shares of American International Group in the fourth quarter worth approximately $505,000. Kapitalo Investimentos Ltda purchased a new position in American International Group in the fourth quarter worth $109,000. CWM LLC grew its position in American International Group by 10.1% in the first quarter. CWM LLC now owns 12,115 shares of the insurance provider’s stock worth $947,000 after acquiring an additional 1,115 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in American International Group by 14.2% during the first quarter. GAMMA Investing LLC now owns 6,752 shares of the insurance provider’s stock valued at $528,000 after buying an additional 840 shares during the period. 90.60% of the stock is currently owned by institutional investors.

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.