American International Group (NYSE:AIG) Price Target Lowered to $80.00 at Bank of America

American International Group (NYSE:AIG) had its price objective lowered by Bank of America from $89.00 to $80.00 in a research report released on Friday,MarketScreener reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

Several other research analysts have also weighed in on the company. Royal Bank Of Canada started coverage on American International Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price objective for the company. Piper Sandler lifted their target price on American International Group from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Wells Fargo & Company boosted their price target on American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wall Street Zen downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Morgan Stanley dropped their target price on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.68.

American International Group Stock Down 1.6%

Shares of AIG opened at $72.85 on Friday. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a fifty day moving average of $79.63 and a 200-day moving average of $79.80.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 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 period last year, the firm posted $1.23 earnings per share. As a group, sell-side analysts anticipate that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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

Institutional Trading of American International Group

Institutional investors have recently modified their holdings of the company. Westfuller Advisors LLC bought a new position in American International Group during the 3rd quarter valued at approximately $26,000. Atlantic Union Bankshares Corp increased its stake in shares of American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares during the period. Eastern Bank raised its holdings 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 valued at $30,000 after acquiring an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of American International Group during the 2nd quarter valued at about $32,000. Finally, GFG Capital LLC bought a new position in shares of American International Group in the 2nd quarter worth approximately $33,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

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.