JPMorgan Chase & Co. Cuts American International Group (NYSE:AIG) Price Target to $86.00

American International Group (NYSE:AIG) had its price target reduced by JPMorgan Chase & Co. from $97.00 to $86.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on AIG. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. The Goldman Sachs Group cut their price objective on American International Group from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Barclays cut their price objective on American International Group from $79.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Mizuho cut their price objective on American International Group from $86.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Finally, Bank of America cut their price objective on American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.76.

American International Group Stock Down 2.5%

Shares of AIG stock opened at $76.00 on Monday. The stock has a 50 day moving average of $77.37 and a 200 day moving average of $78.17. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market cap of $40.80 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.59 and a beta of 0.59. American International Group has a twelve month low of $71.25 and a twelve month high of $87.46.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.06. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same period last year, the business earned $1.30 earnings per share. As a group, sell-side analysts expect that American International Group will post 7.79 EPS for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Institutional Trading of American International Group

Several large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 129 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of American International Group by 2.9% during the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 130 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of American International Group by 17.7% during the third quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 131 shares in the last quarter. Howard Capital Management Inc. increased its position in shares of American International Group by 3.0% during the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 138 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of American International Group by 12.6% during the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 140 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.