American International Group (NYSE:AIG) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of American International Group (NYSE:AIG) from a buy rating to a hold rating in a research report released on Saturday.

Several other research analysts have also recently issued reports on AIG. Cantor Fitzgerald raised American International Group to a “hold” rating in a research report on Tuesday, August 12th. Evercore ISI increased their price objective on shares of American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. UBS Group boosted their target price on shares of American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price target on shares of American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.93.

American International Group Trading Up 0.7%

NYSE:AIG opened at $76.80 on Friday. The company has a market cap of $42.55 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $79.13 and a two-hundred day simple moving average of $81.19. American International Group has a 12 month low of $69.24 and a 12 month high of $88.07.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the business posted $1.23 EPS. Research analysts forecast that American International Group will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued 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 yield of 2.3%. American International Group’s payout ratio is currently 32.73%.

Institutional Trading of American International Group

Several institutional investors and hedge funds have recently modified their holdings of AIG. Vanguard Group Inc. boosted its holdings in American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after buying an additional 7,117,583 shares during the period. GQG Partners LLC lifted its position in shares of American International Group by 33,315.0% in 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 acquiring an additional 18,852,949 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of American International Group by 6.1% in the second quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock worth $1,072,969,000 after acquiring an additional 716,209 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock worth $951,230,000 after purchasing an additional 499,330 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of American International Group during the second quarter worth about $787,724,000. 90.60% of the stock is currently owned by institutional investors.

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.