American International Group (NYSE:AIG) Price Target Cut to $78.00 by Analysts at Evercore ISI

American International Group (NYSE:AIG) had its price objective trimmed by Evercore ISI from $79.00 to $78.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an in-line rating on the insurance provider’s stock.

Several other research firms have also recently issued reports on AIG. Morgan Stanley decreased their target price on shares of American International Group from $82.00 to $80.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company lowered their target price on shares of American International Group from $79.00 to $77.00 and set an equal weight rating on the stock in a research note on Friday, August 9th. StockNews.com cut American International Group from a hold rating to a sell rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods reduced their price target on American International Group from $96.00 to $90.00 and set an outperform rating for the company in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on American International Group from $80.00 to $93.00 and gave the company a neutral rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $84.50.

American International Group Trading Up 1.3 %

NYSE AIG opened at $75.59 on Wednesday. The company has a fifty day moving average of $73.70 and a 200 day moving average of $75.50. The company has a market capitalization of $50.17 billion, a PE ratio of 11.28, a P/E/G ratio of 3.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. American International Group has a 1 year low of $58.69 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 EPS. Research analysts forecast that American International Group will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio is currently 23.88%.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Forum Financial Management LP raised its position in shares of American International Group by 1.1% during the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after buying an additional 128 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 136 shares during the period. Quent Capital LLC grew its holdings in shares of American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 146 shares during the period. New Republic Capital LLC increased its position in shares of American International Group by 5.2% during the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 164 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in American International Group by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.