American International Group (NYSE:AIG) Upgraded by Cantor Fitzgerald to “Hold” Rating

Cantor Fitzgerald upgraded shares of American International Group (NYSE:AIG) to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. William Blair raised shares of American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Cfra Research raised shares of American International Group to a “moderate buy” rating in a research report on Monday. Wall Street Zen raised shares of American International Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Citigroup started coverage on shares of American International Group in a research report on Wednesday. They issued a “neutral” rating and a $85.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.27.

American International Group Stock Performance

Shares of American International Group stock opened at $80.33 on Tuesday. American International Group has a one year low of $69.24 and a one year high of $88.07. The firm has a market capitalization of $44.50 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 0.86 and a beta of 0.63. The business has a 50-day simple moving average of $81.95 and a 200 day simple moving average of $81.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating 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 business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the company posted $1.16 EPS. On average, research analysts anticipate that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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

Institutional Investors Weigh In On American International Group

Large investors have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new stake in shares of American International Group during the 4th quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of American International Group during the 2nd quarter worth approximately $32,000. Sachetta LLC increased its stake in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 249 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of American International Group during the 2nd quarter worth approximately $33,000. Finally, Barrett & Company Inc. purchased a new stake in shares of American International Group during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.