American International Group, Inc. (NYSE:AIG) Stock Now Rated “Hold” by Wall Street Brokerages

American International Group, Inc. (NYSE:AIG) has been given an average rating of “Hold” by the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $88.16.

Several analysts have recently commented on the company. Mizuho decreased their price objective on American International Group from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, September 16th. Cantor Fitzgerald dropped their target price on American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Royal Bank Of Canada upped their target price on American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. HSBC decreased their price target on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, The Goldman Sachs Group boosted their price target on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the transaction, the insider owned 556,004 shares in the company, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of American International Group by 6.9% in the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares during the period. State Street Corp grew its stake in American International Group by 0.8% during the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock valued at $1,871,852,000 after purchasing an additional 196,969 shares during the last quarter. Franklin Resources Inc. grew its stake in American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after purchasing an additional 474,035 shares during the period. Finally, Norges Bank acquired a new position in shares of American International Group in the fourth quarter valued at about $636,782,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Down 0.6%

Shares of American International Group stock opened at $74.99 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $39.21 billion, a P/E ratio of 13.71, a PEG ratio of 0.84 and a beta of 0.52. The firm’s 50 day moving average price is $76.53 and its 200-day moving average price is $76.43. American International Group has a 52-week low of $71.25 and a 52-week high of $87.29.

American International Group (NYSE:AIG) last posted its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. On average, sell-side analysts predict that American International Group will post 8.04 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $0.50 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. American International Group’s dividend payout ratio (DPR) is 36.56%.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.