American International Group, Inc. (AIG) Lowered to “Hold” at ValuEngine

ValuEngine cut shares of American International Group, Inc. (NYSE:AIG) from a buy rating to a hold rating in a research note released on Wednesday morning.

Several other research analysts also recently weighed in on AIG. Zacks Investment Research raised shares of American International Group from a hold rating to a buy rating and set a $70.00 target price on the stock in a research report on Wednesday, July 5th. Wells Fargo & Company reissued a buy rating on shares of American International Group in a research report on Wednesday, July 5th. BidaskClub downgraded shares of American International Group from a hold rating to a sell rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods reissued a buy rating and issued a $75.00 target price on shares of American International Group in a research report on Thursday, August 3rd. Finally, Atlantic Securities downgraded shares of American International Group from an overweight rating to a neutral rating and set a $70.00 target price on the stock. in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $68.35.

American International Group (AIG) traded up 1.124% during mid-day trading on Wednesday, hitting $62.535. 3,141,388 shares of the stock traded hands. The stock has a 50 day moving average price of $60.67 and a 200 day moving average price of $62.20. American International Group has a 12-month low of $57.35 and a 12-month high of $67.47. The firm’s market cap is $56.49 billion.

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 consensus estimate of $1.20 by $0.33. The business 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 last year, the firm posted $0.98 earnings per share. On average, analysts expect that American International Group will post $3.48 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, September 14th. American International Group’s dividend payout ratio is -711.07%.

Hedge funds have recently made changes to their positions in the company. Pathstone Family Office LLC grew its holdings in shares of American International Group by 2,557.1% in the 2nd quarter. Pathstone Family Office LLC now owns 1,488 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 1,432 shares during the last quarter. Israel Discount Bank of New York bought a new stake in shares of American International Group in the 1st quarter worth about $145,000. Peddock Capital Advisors LLC grew its holdings in shares of American International Group by 100.0% in the 2nd quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock worth $159,000 after purchasing an additional 1,271 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of American International Group by 0.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock worth $165,000 after purchasing an additional 14 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in shares of American International Group by 30.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock worth $192,000 after purchasing an additional 716 shares during the last quarter. Institutional investors own 83.98% of the company’s stock.

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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