American International Group (NYSE:AIG) Downgraded by BMO Capital Markets

BMO Capital Markets cut shares of American International Group (NYSE:AIG) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, Marketbeat.com reports. BMO Capital Markets currently has $84.00 price objective on the insurance provider’s stock, down from their prior price objective of $90.00.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Citigroup cut their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Bank of America boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lowered their target price on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.38.

American International Group Stock Performance

Shares of AIG opened at $79.20 on Tuesday. The company’s 50 day moving average price is $74.30 and its 200 day moving average price is $75.51. American International Group has a 52 week low of $58.69 and a 52 week high of $80.83. The company has a market capitalization of $52.56 billion, a PE ratio of 11.82, a PEG ratio of 3.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) 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 business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 earnings per share. Research analysts expect that American International Group will post 5.09 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.40 per share. The ex-dividend date was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. American International Group’s payout ratio is presently 23.88%.

Insider Buying and Selling at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the 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 sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

A number of hedge funds have recently modified their holdings of the company. Swedbank AB acquired a new stake in American International Group during the 1st quarter worth approximately $99,951,000. Canada Pension Plan Investment Board raised its holdings 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 worth $148,053,000 after buying an additional 941,607 shares during the period. Bank of Montreal Can raised its holdings in American International Group by 83.6% during the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after buying an additional 597,765 shares during the period. Senator Investment Group LP raised its holdings in American International Group by 41.0% during the 1st quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after buying an additional 441,048 shares during the period. Finally, National Bank of Canada FI raised its holdings in American International Group by 171.9% during the 1st quarter. National Bank of Canada FI now owns 640,971 shares of the insurance provider’s stock worth $51,348,000 after buying an additional 405,230 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.