American International Group (NYSE:AIG) Price Target Cut to $91.00 by Analysts at HSBC

American International Group (NYSE:AIG) had its price objective reduced by HSBC from $93.00 to $91.00 in a research report released on Thursday morning,MarketScreener reports. They currently have a buy rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Cfra Research upgraded shares of American International Group to a “moderate buy” rating in a report on Monday, August 11th. UBS Group upped their price objective on American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Citigroup started coverage on American International Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $85.00 target price on the stock. The Goldman Sachs Group lowered their price target on American International Group from $86.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Wall Street Zen cut American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus price target of $89.73.

American International Group Stock Up 0.9%

Shares of AIG traded up $0.65 on Thursday, reaching $76.34. The stock had a trading volume of 1,140,367 shares, compared to its average volume of 4,482,573. The firm has a market capitalization of $41.19 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. The company has a 50-day simple moving average of $78.60 and a 200-day simple moving average of $80.88. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Sell-side analysts predict that American International Group will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. American International Group’s dividend payout ratio is presently 32.73%.

Institutional Trading of American International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GQG Partners LLC lifted its position in American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares in the last quarter. Capital Research Global Investors raised its stake in shares of American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after buying an additional 12,645,616 shares during the period. Norges Bank purchased a new position in shares of American International Group during the 2nd quarter valued at about $787,724,000. Vanguard Group Inc. grew its stake in shares of American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares during the period. Finally, Nuveen LLC purchased a new stake in American International Group in the 1st quarter worth approximately $440,273,000. 90.60% of the stock is owned by hedge funds and other 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.