Cantor Fitzgerald Cuts American International Group (NYSE:AIG) Price Target to $77.00

American International Group (NYSE:AIG) had its price target reduced by Cantor Fitzgerald from $80.00 to $77.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the stock. TD Cowen upped their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. Piper Sandler lifted their target price on shares of American International Group from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. HSBC dropped their target price on shares of American International Group from $93.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Wall Street Zen downgraded American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Morgan Stanley dropped their price objective on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $88.68.

American International Group Stock Performance

Shares of AIG opened at $72.85 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $79.63 and a two-hundred day simple moving average of $79.80. The stock has a market cap of $39.31 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.71 and a beta of 0.62. American International Group has a 52 week low of $71.74 and a 52 week high of $88.07.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share 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 analysts’ expectations 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 previous year, the firm earned $1.23 EPS. On average, analysts expect that American International Group will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, December 16th. American International Group’s payout ratio is 32.73%.

Hedge Funds Weigh In On American International Group

Several institutional investors have recently added to or reduced their stakes in AIG. Westfuller Advisors LLC purchased a new position in American International Group during the third quarter worth $26,000. Atlantic Union Bankshares Corp lifted its holdings in shares of American International Group by 7,100.0% in the 3rd 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. Eastern Bank boosted its stake in shares of American International Group by 2,473.3% during the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 371 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of American International Group during the 2nd quarter worth about $32,000. Finally, GFG Capital LLC bought a new position in American International Group during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.