JPMorgan Chase & Co. upgraded shares of American International Group (NYSE:AIG – Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have $89.00 target price on the insurance provider’s stock, down from their previous target price of $93.00.
Several other brokerages also recently issued reports on AIG. Barclays assumed coverage on shares of American International Group in a report on Wednesday, September 4th. They set an overweight rating and a $90.00 price target for the company. Evercore ISI decreased their target price on shares of American International Group from $79.00 to $78.00 and set an in-line rating for the company in a research report on Wednesday, October 9th. TD Cowen cut their price target on American International Group from $83.00 to $80.00 and set a hold rating on the stock in a report on Tuesday, August 13th. Royal Bank of Canada reiterated an outperform rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. Finally, BMO Capital Markets raised their target price on American International Group from $87.00 to $90.00 and gave the company an outperform rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $84.50.
View Our Latest Report on American International Group
American International Group Trading Up 0.9 %
American International Group (NYSE:AIG – Get Free Report) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company posted $1.75 earnings per share. On average, equities analysts forecast that American International Group will post 5.09 earnings per share for the current year.
American International Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. American International Group’s dividend payout ratio is currently 23.88%.
Insider Activity at American International Group
In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.
Hedge Funds Weigh In On American International Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group in the third quarter worth about $26,000. Y.D. More Investments Ltd acquired a new position in American International Group in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC grew its position in American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares in the last quarter. Valued Wealth Advisors LLC raised its stake in American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 276 shares during the period. Finally, Rise Advisors LLC purchased a new stake in shares of American International Group in the first quarter valued at $29,000. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than American International Group
- What Are Growth Stocks and Investing in Them
- Why Fastenal Stock Could Hit New Highs After Strong Q3 Results
- What is a Bond Market Holiday? How to Invest and Trade
- Why Eli Lilly Stock Is Soaring—and How It Plans to Stay on Top
- The Most Important Warren Buffett Stock for Investors: His Own
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.