American International Group (NYSE:AIG) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of American International Group (NYSE:AIG) from a sell rating to a hold rating in a report released on Friday.

Several other equities research analysts have also weighed in on AIG. Piper Sandler reduced their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Citigroup lowered their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Finally, TD Cowen lowered their target price on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and an average target price of $84.31.

American International Group Stock Down 1.3 %

AIG stock traded down $1.01 during trading hours on Friday, hitting $75.58. The company’s stock had a trading volume of 6,826,259 shares, compared to its average volume of 4,122,604. The stock has a 50 day moving average price of $75.15 and a two-hundred day moving average price of $75.66. American International Group has a 12 month low of $62.75 and a 12 month high of $80.83. The company has a market capitalization of $48.67 billion, a PE ratio of -22.30, a price-to-earnings-growth ratio of 5.26 and a beta of 1.05. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the company posted $1.61 earnings per share. On average, equities research analysts expect that American International Group will post 4.99 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. American International Group’s payout ratio is presently -47.20%.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following 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 Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Swedbank AB acquired a new position in American International Group during the 1st quarter worth about $99,951,000. Canada Pension Plan Investment Board lifted its position in shares of American International Group by 98.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after purchasing an additional 941,607 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Bank of Montreal Can raised its position in American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after purchasing an additional 597,765 shares during the last quarter. Finally, Senator Investment Group LP lifted its holdings in American International Group by 41.0% during the 1st quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after buying an additional 441,048 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

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.