American International Group (NYSE:AIG) Price Target Cut to $86.00 by Analysts at Piper Sandler

American International Group (NYSE:AIG) had its price objective decreased by Piper Sandler from $89.00 to $86.00 in a research report report published on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets lifted their price target on American International Group from $88.00 to $89.00 and gave the company an outperform rating in a research note on Monday, May 13th. Wells Fargo & Company lifted their price target on American International Group from $80.00 to $82.00 and gave the company an equal weight rating in a research note on Friday, May 10th. HSBC downgraded American International Group from a buy rating to a hold rating and set a $86.00 price target for the company. in a research note on Wednesday, May 15th. Evercore ISI reduced their target price on American International Group from $81.00 to $78.00 and set an in-line rating for the company in a report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $87.00 target price on shares of American International Group in a report on Thursday, June 27th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $82.38.

American International Group Trading Down 3.9 %

Shares of AIG stock traded down $2.94 during mid-day trading on Friday, hitting $71.97. The company’s stock had a trading volume of 7,453,145 shares, compared to its average volume of 4,655,245. The company’s fifty day simple moving average is $75.93 and its 200-day simple moving average is $74.73. American International Group has a 52 week low of $57.02 and a 52 week high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $47.76 billion, a PE ratio of 10.74, a P/E/G ratio of 2.48 and a beta of 1.07.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the business posted $1.75 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that American International Group will post 6.4 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. American International Group’s dividend payout ratio is presently 23.88%.

Insider Activity

In other American International Group news, Director W Don Cornwell 1,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Don Cornwell 1,000 shares of the stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of American International Group by 0.4% during the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after acquiring an additional 176,286 shares during the last quarter. Norges Bank purchased a new stake in American International Group in the 4th quarter worth $746,005,000. Putnam Investments LLC lifted its stake in American International Group by 3.8% in the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock worth $558,646,000 after purchasing an additional 300,712 shares in the last quarter. LSV Asset Management increased its holdings in shares of American International Group by 5.3% in the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock worth $392,065,000 after buying an additional 290,061 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of American International Group by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after buying an additional 31,340 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

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.