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

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

Several other analysts have also recently weighed in on the stock. Evercore ISI cut their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Bank of America lifted their target price on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods cut their price objective on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their target price on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus target price of $84.40.

American International Group Stock Performance

NYSE:AIG opened at $72.81 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group has a fifty-two week low of $66.06 and a fifty-two week high of $80.83. The business has a 50 day moving average price of $74.75 and a 200-day moving average price of $74.84. The firm 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.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the previous year, the company earned $1.61 earnings per share. Equities research analysts predict that American International Group will post 5.12 earnings per share for the current year.

American International Group Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Atlanta Consulting Group Advisors LLC purchased a new position in American International Group in the third quarter worth about $494,000. M&T Bank Corp raised its position in shares of American International Group by 329.0% during the third quarter. M&T Bank Corp now owns 98,964 shares of the insurance provider’s stock valued at $7,247,000 after buying an additional 75,894 shares during the last quarter. Intech Investment Management LLC grew its stake in American International Group by 15.8% during the third quarter. Intech Investment Management LLC now owns 95,531 shares of the insurance provider’s stock valued at $6,996,000 after acquiring an additional 13,028 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of American International Group by 6.1% in the second quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock worth $69,748,000 after purchasing an additional 54,419 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in American International Group by 1.3% during the third quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock valued at $53,785,000 after buying an additional 9,118 shares during the last quarter. 90.60% of the stock is 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.