The Goldman Sachs Group Cuts American International Group (NYSE:AIG) Price Target to $81.00

by · The Markets Daily

American International Group (NYSE:AIG – Free Report) had its target price lowered by The Goldman Sachs Group from $84.00 to $81.00 in a research note published on Monday morning,MarketScreener reports. The firm currently has a neutral rating on the insurance provider’s stock.

AIG has been the topic of a number of other reports. HSBC cut their price objective on American International Group from $93.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. UBS Group upped their price objective on shares of American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a report on Monday, December 1st. Finally, Barclays cut American International Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $95.00 to $88.00 in a report on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.81.

Read Our Latest Stock Report on American International Group

American International Group Trading Up 6.2%

Shares of American International Group stock opened at $81.14 on Monday. The firm’s 50 day moving average is $78.34 and its 200 day moving average is $80.26. The firm has a market capitalization of $43.78 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.80 and a beta of 0.62. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. American International Group has a 1 year low of $69.24 and a 1 year high of $88.07.

American International Group (NYSE:AIG – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.63. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a return on equity of 9.09% and a net margin of 11.89%.During the same quarter in the prior year, the firm posted $1.23 earnings per share. Equities research analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group’s payout ratio is currently 32.73%.

Institutional Investors Weigh In On American International Group

Several institutional investors have recently bought and sold shares of the stock. Vise Technologies Inc. purchased a new position in shares of American International Group in the second quarter valued at about $858,000. Jupiter Asset Management Ltd. purchased a new stake in shares of American International Group during the second quarter worth about $6,127,000. Patton Fund Management Inc. bought a new stake in shares of American International Group in the second quarter worth about $232,000. AIA Group Ltd increased its holdings in American International Group by 169.6% during the 1st quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider’s stock valued at $901,000 after purchasing an additional 6,523 shares during the period. Finally, Allworth Financial LP increased its holdings in American International Group by 132.6% during the 2nd quarter. Allworth Financial LP now owns 12,457 shares of the insurance provider’s stock valued at $1,066,000 after purchasing an additional 7,101 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

About American International Group

(Get Free Report)

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.

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