American International Group (NYSE:AIG) Shares Gap Down – Here’s What Happened

American International Group, Inc. (NYSE:AIG)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $84.38, but opened at $79.69. American International Group shares last traded at $78.0070, with a volume of 960,776 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America upped their target price on American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Evercore ISI lifted their price objective on shares of American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. TD Cowen increased their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald reissued a “neutral” rating on shares of American International Group in a report on Thursday, December 11th. Finally, The Goldman Sachs Group decreased their target price on shares of American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.56.

American International Group Stock Performance

The company has a market capitalization of $41.94 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The firm has a fifty day simple moving average of $80.17 and a 200 day simple moving average of $80.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. American International Group had a return on equity of 9.09% and a net margin of 11.89%.During the same quarter last year, the firm posted $1.23 EPS. On average, analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s payout ratio is currently 32.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIG. Westfuller Advisors LLC purchased a new stake in American International Group during the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp boosted its stake in shares of American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 355 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of American International Group during the second quarter worth approximately $33,000. Eastern Bank increased its position in shares of American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 371 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in American International Group in the 2nd quarter valued at $32,000. 90.60% of the stock is 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.