Morgan Stanley Cuts American International Group (NYSE:AIG) Price Target to $81.00
by Kim Johansen · The Markets DailyAmerican International Group (NYSE:AIG – Free Report) had its price objective trimmed by Morgan Stanley from $82.00 to $81.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.
Several other research firms have also commented on AIG. Barclays boosted their price target on shares of American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Bank of America dropped their price objective on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler lifted their price objective on shares of American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Citigroup boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group upped their target price on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $88.39.
Read Our Latest Stock Report on AIG
American International Group Stock Performance
Shares of American International Group stock opened at $76.54 on Wednesday. The firm has a market cap of $40.02 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.69 and a beta of 0.53. The company has a current ratio of 0.61, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29. The stock’s fifty day moving average price is $77.57 and its 200-day moving average price is $76.89.
American International Group (NYSE:AIG – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the company posted $1.81 earnings per share. On average, equities research analysts expect that American International Group will post 8.02 earnings per share for the current fiscal year.
American International Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.
Insider Transactions at American International Group
In other American International Group news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On American International Group
Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in American International Group in the 4th quarter worth approximately $1,091,000. Sivia Capital Partners LLC increased its stake in American International Group by 30.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 1,185 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in American International Group during the 2nd quarter valued at approximately $217,000. Ieq Capital LLC raised its holdings in shares of American International Group by 11.5% in the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after buying an additional 25,311 shares during the last quarter. Finally, HUB Investment Partners LLC acquired a new stake in shares of American International Group during the second quarter worth $269,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
About American International Group
American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.
The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.
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