American International Group (NYSE:AIG) Price Target Lowered to $87.00 at Keefe, Bruyette & Woods

American International Group (NYSE:AIG) had its target price trimmed by Keefe, Bruyette & Woods from $88.00 to $87.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

A number of other analysts also recently weighed in on the stock. Piper Sandler reduced their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. UBS Group raised their price objective on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup reduced their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $93.00 to $89.00 in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.13.

American International Group Price Performance

NYSE AIG opened at $75.77 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group has a 1 year low of $63.57 and a 1 year high of $80.83. The company has a fifty day simple moving average of $75.12 and a 200 day simple moving average of $75.68. The company has a market cap of $47.26 billion, a P/E ratio of -22.35, a P/E/G ratio of 7.53 and a beta of 1.05.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the firm earned $1.61 EPS. On average, sell-side analysts predict that American International Group will post 5.13 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is presently -47.20%.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after buying an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after buying an additional 722,237 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in American International Group by 0.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after buying an additional 59,180 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American International Group by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after purchasing an additional 269,188 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of American International Group by 0.6% in the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after purchasing an additional 31,340 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

About American International Group

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.