Morgan Stanley Cuts American International Group (NYSE:AIG) Price Target to $80.00

American International Group (NYSE:AIG) had its price target trimmed by Morgan Stanley from $81.00 to $80.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, August 10th. UBS Group raised their target price on American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their target price on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Finally, Royal Bank Of Canada raised their price objective on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.11.

American International Group Trading Up 1.8%

Shares of NYSE:AIG opened at $77.02 on Tuesday. The stock’s 50-day simple moving average is $76.20 and its two-hundred day simple moving average is $76.46. The stock has a market capitalization of $40.27 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.81 and a beta of 0.52. American International Group has a 52-week low of $71.25 and a 52-week high of $87.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last released its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the prior year, the firm earned $1.81 EPS. Analysts expect that American International Group will post 8.01 EPS for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.50 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group’s payout ratio is presently 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider owned 592,833 shares in the company, valued at $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On American International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIG. Bank of New York Mellon Corp bought a new position in American International Group during the second quarter valued at $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of American International Group in the 2nd quarter worth about $464,539,000. Wellington Management Group LLP lifted its holdings in shares of American International Group by 6.9% in the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares during the last quarter. Man Group plc grew its position in American International Group by 104.6% in the second quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock worth $269,230,000 after acquiring an additional 1,847,194 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in American International Group by 197.2% in the first quarter. Assenagon Asset Management S.A. now owns 827,288 shares of the insurance provider’s stock worth $62,253,000 after acquiring an additional 1,678,585 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.