American International Group (NYSE:AIG) PT Lowered to $80.00

American International Group (NYSE:AIG) had its price objective reduced by Morgan Stanley from $82.00 to $80.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other equities analysts also recently commented on AIG. Bank of America lifted their price objective on shares of American International Group from $82.00 to $84.00 and gave the stock a neutral rating in a report on Tuesday, June 11th. Royal Bank of Canada reissued an outperform rating and set a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of American International Group from $73.00 to $80.00 and gave the company a neutral rating in a report on Monday, April 8th. Evercore ISI reduced their price target on shares of 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, Piper Sandler boosted their price target on shares of American International Group from $87.00 to $89.00 and gave the company an overweight rating in a report on Friday, April 19th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, American International Group currently has an average rating of Hold and a consensus price target of $82.50.

American International Group Stock Performance

American International Group stock opened at $77.14 on Wednesday. The company has a market cap of $51.20 billion, a PE ratio of 11.51, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a fifty day moving average price of $76.69 and a two-hundred day moving average price of $73.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. American International Group has a 12 month low of $57.02 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter in the previous year, the company posted $1.63 earnings per share. Research analysts expect that American International Group will post 6.93 earnings per share for the current year.

American International Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.07%. American International Group’s payout ratio is 23.88%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the sale, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

Institutional Trading of American International Group

Several institutional investors and hedge funds have recently bought and sold shares of AIG. Norges Bank acquired a new stake in American International Group during the 4th quarter worth about $746,005,000. Swedbank AB acquired a new stake in American International Group during the 1st quarter worth about $99,951,000. Canada Pension Plan Investment Board grew its stake in American International Group by 98.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after acquiring an additional 941,607 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in American International Group by 95.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock valued at $82,772,000 after acquiring an additional 597,661 shares in the last quarter. Finally, Third Point LLC grew its stake in American International Group by 16.9% during the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after acquiring an additional 500,000 shares in the last quarter. Institutional investors and hedge funds 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.