Piper Sandler Cuts American International Group (NYSE:AIG) Price Target to $88.00

American International Group (NYSE:AIG) had its target price cut by Piper Sandler from $96.00 to $88.00 in a research note released on Thursday morning, MarketBeat.com reports. They currently have an overweight rating on the insurance provider’s stock.

Several other brokerages also recently commented on AIG. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Cfra Research upgraded shares of American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of American International Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, William Blair upgraded American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, American International Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.31.

American International Group Stock Up 1.8%

AIG stock opened at $81.05 on Thursday. The business has a 50 day moving average of $79.30 and a 200 day moving average of $81.69. The firm has a market cap of $44.90 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.86 and a beta of 0.68. American International Group has a twelve month low of $69.24 and a twelve month high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, research analysts forecast that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.2%. American International Group’s payout ratio is currently 34.09%.

Institutional Trading of American International Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of American International Group during the 2nd quarter valued at $32,000. Sachetta LLC lifted its position in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 249 shares in the last quarter. GFG Capital LLC purchased a new position in shares of American International Group in the second quarter valued at about $33,000. Barrett & Company Inc. bought a new position in shares of American International Group in the second quarter worth about $35,000. Finally, NewSquare Capital LLC raised its stake in shares of American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 154 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Company Profile

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.