Keefe, Bruyette & Woods Cuts American International Group (NYSE:AIG) Price Target to $87.00

American International Group (NYSE:AIG) had its price target reduced by Keefe, Bruyette & Woods from $88.00 to $87.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Other research analysts have also recently issued reports about the company. Evercore ISI reduced 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 report on Wednesday, October 9th. Barclays assumed coverage on 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. Bank of America raised their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Finally, BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. 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 has an average rating of “Moderate Buy” and an average target price of $84.13.

American International Group Price Performance

Shares of NYSE AIG traded up $0.94 during mid-day trading on Tuesday, reaching $76.69. 211,998 shares of the company traded hands, compared to its average volume of 4,104,057. The firm has a market cap of $47.84 billion, a PE ratio of -22.62, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group has a fifty-two week low of $63.57 and a fifty-two week high of $80.83. The stock has a fifty day simple moving average of $75.12 and a 200-day simple moving average of $75.68.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter last year, the business posted $1.61 EPS. Equities research analysts anticipate that American International Group will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

Insider Buying and Selling at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swedbank AB acquired a new stake in shares of American International Group during the 1st quarter worth about $99,951,000. Canada Pension Plan Investment Board lifted its holdings in shares of American International Group by 98.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after buying an additional 941,607 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in American International Group by 5.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after purchasing an additional 722,237 shares during the last quarter. Bank of Montreal Can raised its holdings in American International Group by 83.6% during the second 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 raised its holdings in shares of American International Group by 41.0% in the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after acquiring an additional 441,048 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.