American International Group’s (AIG) Hold Rating Reiterated at Evercore ISI

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Evercore ISI reiterated their hold rating on shares of American International Group (NYSE:AIG) in a research report released on Sunday, AnalystRatings.com reports. They currently have a $53.00 price target on the insurance provider’s stock.

“We note, however, that the level of rate probably implies that 2017 and 2018 accident years may develop adversely, in our view, given such an extreme move in pricing. On the expense ratio in GI, AIG believes it can pull some levers to lower the acquisition ratio through various means such as optimizing the reinsurance structure with one example being the use of quota share where the ceding commission is netted against your acquisition ratio or by finding ways to lower premium taxes. Additionally, this and other optimization efforts will help AIG achieve an expected 5 pts of improvement in the expense ratio relative to when initiatives were started following Duperreault taking over and has currently already achieved 1.5 pts of that, implying that an additional 3.5 pts is on the come over the next several years or so.”,” Evercore ISI’s analyst commented.

Several other research analysts also recently weighed in on the company. Morgan Stanley upped their price target on American International Group from $57.00 to $58.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. William Blair upgraded American International Group from a market perform rating to an outperform rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price target on American International Group to $68.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Deutsche Bank downgraded American International Group from a buy rating to a hold rating and set a $53.35 price target for the company. in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Finally, Bank of America restated a buy rating and issued a $56.00 price target (up from $50.00) on shares of American International Group in a research note on Tuesday, May 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. American International Group has a consensus rating of Buy and an average price target of $57.03.

Shares of NYSE:AIG opened at $53.37 on Friday. American International Group has a 12-month low of $36.16 and a 12-month high of $57.58. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. The company has a market cap of $48.93 billion, a P/E ratio of 45.62, a PEG ratio of 1.00 and a beta of 1.19. The company’s 50 day moving average is $55.26.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.26. American International Group had a positive return on equity of 3.04% and a negative net margin of 0.24%. The business had revenue of $12.16 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same period in the prior year, the company posted $1.05 EPS. On average, research analysts predict that American International Group will post 5.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.40%. American International Group’s dividend payout ratio (DPR) is 109.40%.

In other news, CEO Seraina Macia sold 7,550 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $56.00, for a total transaction of $422,800.00. Following the sale, the chief executive officer now directly owns 11,055 shares of the company’s stock, valued at approximately $619,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Therese M. Vaughan acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $51.71 per share, for a total transaction of $51,710.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at $51,710. The disclosure for this purchase can be found here. 0.10% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. First Bank & Trust raised its holdings in American International Group by 7.6% during the 2nd quarter. First Bank & Trust now owns 3,083 shares of the insurance provider’s stock valued at $164,000 after buying an additional 218 shares during the period. OLD National Bancorp IN grew its position in American International Group by 0.9% in the 2nd quarter. OLD National Bancorp IN now owns 24,491 shares of the insurance provider’s stock valued at $1,305,000 after acquiring an additional 230 shares during the last quarter. CIBC Asset Management Inc grew its position in American International Group by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 82,798 shares of the insurance provider’s stock valued at $4,411,000 after acquiring an additional 252 shares during the last quarter. National Asset Management Inc. grew its position in American International Group by 3.5% in the 2nd quarter. National Asset Management Inc. now owns 7,627 shares of the insurance provider’s stock valued at $407,000 after acquiring an additional 258 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in American International Group by 2.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 9,515 shares of the insurance provider’s stock valued at $507,000 after acquiring an additional 270 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.

American International Group Company Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.

See Also: Commodities

Analyst Recommendations for American International Group (NYSE:AIG)

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