Barclays Cuts American International Group (NYSE:AIG) Price Target to $81.00

American International Group (NYSE:AIG) had its price objective cut by Barclays from $88.00 to $81.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $91.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group reduced their target price on American International Group from $84.00 to $81.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Evercore ISI boosted their target price on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. increased their price target on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Bank of America lifted their price objective on American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Two equities research 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 company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus target price of $89.17.

American International Group Stock Performance

NYSE:AIG opened at $75.50 on Thursday. The stock has a 50-day moving average price of $80.09 and a 200 day moving average price of $80.17. The stock has a market capitalization of $40.74 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.72 and a beta of 0.62. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $1.23 EPS. Equities research analysts forecast that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vise Technologies Inc. acquired a new stake in American International Group during the second quarter worth about $858,000. Jupiter Asset Management Ltd. acquired a new stake in shares of American International Group during the 2nd quarter worth approximately $6,127,000. Patton Fund Management Inc. purchased a new position in shares of American International Group during the 2nd quarter valued at approximately $232,000. Allworth Financial LP lifted its stake in shares of American International Group by 132.6% in the 2nd quarter. Allworth Financial LP now owns 12,457 shares of the insurance provider’s stock valued at $1,066,000 after purchasing an additional 7,101 shares during the period. Finally, Callan Family Office LLC boosted its holdings in American International Group by 303.4% during the second quarter. Callan Family Office LLC now owns 24,782 shares of the insurance provider’s stock worth $2,121,000 after buying an additional 18,639 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

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.