American International Group (NYSE:AIG) Price Target Cut to $90.00 by Analysts at Keefe, Bruyette & Woods

American International Group (NYSE:AIG) had its price target cut by Keefe, Bruyette & Woods from $96.00 to $90.00 in a report released on Monday,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

A number of other equities analysts have also recently issued reports on AIG. HSBC cut their price target on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Argus reiterated a “buy” rating and issued a $90.00 price objective on shares of American International Group in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. boosted their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Royal Bank Of Canada boosted their target price on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research note on Tuesday, September 29th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.68.

American International Group Stock Up 0.8%

Shares of American International Group stock opened at $77.67 on Monday. The stock’s 50-day moving average is $76.15 and its 200 day moving average is $76.49. American International Group has a one year low of $71.25 and a one year high of $87.29. The firm has a market cap of $40.61 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61.

American International Group (NYSE:AIG) last issued its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%. During the same period in the previous year, the company posted $1.81 earnings per share. Equities research analysts anticipate that American International Group will post 8.06 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 16th. American International Group’s payout ratio is presently 36.56%.

Insider Buying and Selling

In related news, insider Peter Zaffino sold 36,829 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the transaction, the insider directly owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 insiders.

Institutional Investors Weigh In On American International Group

A number of hedge funds have recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. increased its holdings in American International Group by 194.2% during the 1st quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 22,300 shares in the last quarter. Swiss National Bank raised its stake in shares of American International Group by 4.3% in the first quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock worth $119,163,000 after purchasing an additional 65,400 shares during the last quarter. KBC Group NV lifted its holdings in shares of American International Group by 5.8% in the first quarter. KBC Group NV now owns 343,754 shares of the insurance provider’s stock valued at $25,868,000 after purchasing an additional 18,812 shares in the last quarter. Algebris UK Ltd. lifted its holdings in shares of American International Group by 98.4% in the second quarter. Algebris UK Ltd. now owns 1,235,231 shares of the insurance provider’s stock valued at $91,772,000 after purchasing an additional 612,790 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of American International Group by 51.2% in the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 73,416 shares of the insurance provider’s stock valued at $6,281,000 after purchasing an additional 24,854 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.