American International Group Inc (NYSE:AIG) had its price target cut by analysts at JPMorgan Chase & Co. from $69.00 to $65.00 in a research note issued on Monday, April 3rd. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 5.62% from the stock’s previous close.
A number of other research firms also recently commented on AIG. Argus reaffirmed a “buy” rating and issued a $75.00 price target (up previously from $66.00) on shares of American International Group in a research note on Wednesday, January 11th. FBR & Co reissued a “market perform” rating and set a $64.00 target price on shares of American International Group in a research note on Wednesday, February 15th. Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a research note on Monday, December 19th. BMO Capital Markets raised American International Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $64.00 to $75.00 in a research note on Monday, December 12th. Finally, Credit Suisse Group AG upgraded American International Group from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $61.00 to $75.00 in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.18.
Shares of American International Group (NYSE:AIG) traded up 2.18% during trading on Monday, reaching $62.88. The company had a trading volume of 5,823,100 shares. American International Group has a 1-year low of $48.41 and a 1-year high of $67.47. The firm has a 50-day moving average of $61.15 and a 200 day moving average of $63.31. The firm’s market capitalization is $61.59 billion. American International Group also saw unusually large options trading on Tuesday. Traders acquired 1,394 call options on the company. This is an increase of approximately 407% compared to the typical volume of 275 call options.
American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.25. The business earned $11.31 billion during the quarter, compared to the consensus estimate of $11 billion. American International Group had a return on equity of 1.82% and a net margin of 0.66%. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Analysts expect that American International Group will post $4.80 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.08%. American International Group’s dividend payout ratio is currently 290.92%.
In other American International Group news, insider Philip Fasano sold 6,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $63.59, for a total value of $381,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.04% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC acquired a new stake in American International Group during the third quarter valued at $131,000. Israel Discount Bank of New York GFN acquired a new stake in American International Group during the fourth quarter valued at $148,000. Chicago Partners Investment Group LLC boosted its stake in American International Group by 0.5% in the third quarter. Chicago Partners Investment Group LLC now owns 2,615 shares of the insurance provider’s stock valued at $155,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. boosted its stake in American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. acquired a new stake in American International Group during the first quarter valued at $184,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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