BidaskClub cut shares of American International Group, Inc. (NYSE:AIG) from a hold rating to a sell rating in a research note released on Sunday morning.
A number of other research firms also recently weighed in on AIG. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $75.00 target price on shares of American International Group in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of American International Group from a sell rating to a hold rating in a research report on Tuesday, August 1st. Atlantic Securities downgraded shares of American International Group from an overweight rating to a neutral rating and set a $70.00 price objective on the stock. in a research report on Wednesday, August 9th. Deutsche Bank AG reissued a sell rating and set a $60.00 price objective (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Finally, Wells Fargo & Company reissued a buy rating on shares of American International Group in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $69.02.
Shares of American International Group (AIG) opened at 62.97 on Friday. American International Group has a 12-month low of $57.35 and a 12-month high of $67.47. The firm’s market capitalization is $56.89 billion. The firm has a 50-day moving average of $64.05 and a 200-day moving average of $63.01.
American International Group (NYSE:AIG) last released its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.33. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same period in the prior year, the firm earned $0.98 EPS. Equities analysts anticipate that American International Group will post $5.28 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is presently -711.07%.
American International Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
Hedge funds have recently made changes to their positions in the stock. Israel Discount Bank of New York bought a new stake in shares of American International Group during the first quarter worth about $145,000. Peddock Capital Advisors LLC increased its stake in shares of American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock worth $159,000 after buying an additional 1,271 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock worth $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. increased its stake in shares of American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,711 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new stake in shares of American International Group during the first quarter worth about $184,000. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
About American International Group
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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