American International Group (NYSE:AIG) Price Target Cut to $83.00 by Analysts at JPMorgan Chase & Co.

American International Group (NYSE:AIG) had its target price lowered by JPMorgan Chase & Co. from $89.00 to $83.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the insurance provider’s stock.

A number of other research firms have also recently commented on AIG. UBS Group raised their price target on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upped their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods cut their price target on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Bank of America upped their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.40.

American International Group Trading Down 0.2 %

Shares of AIG stock opened at $72.81 on Friday. The company has a market cap of $45.42 billion, a PE ratio of -21.48, a price-to-earnings-growth ratio of 7.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50 day simple moving average is $74.75 and its two-hundred day simple moving average is $74.84. American International Group has a 1 year low of $66.06 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate 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 company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. Research analysts predict that American International Group will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.20%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Institutional Investors Weigh In On American International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of American International Group by 32.4% during 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 acquiring an additional 6,119,996 shares in the last quarter. Prana Capital Management LP lifted its position in American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after acquiring an additional 1,391,859 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 722,237 shares during the period. Bank of Montreal Can raised its stake in shares of American International Group by 83.6% in the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after purchasing an additional 597,765 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of American International Group by 24.7% during the third quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock worth $201,286,000 after purchasing an additional 544,110 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

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.