American International Group (NYSE:AIG) Price Target Lowered to $84.00 at Morgan Stanley

American International Group (NYSE:AIG) had its target price reduced by Morgan Stanley from $85.00 to $84.00 in a report published on Tuesday morning, MarketBeat.com reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

AIG has been the subject of a number of other research reports. Keefe, Bruyette & Woods dropped their price target on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Wall Street Zen upgraded American International Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Piper Sandler dropped their target price on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. Citigroup assumed coverage on American International Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.44.

American International Group Stock Performance

Shares of AIG opened at $84.04 on Tuesday. The company has a market cap of $46.56 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 0.89 and a beta of 0.68. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $79.48 and a 200-day moving average price of $81.69. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter last year, the company posted $1.16 EPS. As a group, equities analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s payout ratio is 34.09%.

Hedge Funds Weigh In On American International Group

A number of large investors have recently bought and sold shares of AIG. Brighton Jones LLC purchased a new position in American International Group in the 4th quarter worth approximately $1,091,000. NBC Securities Inc. purchased a new position in American International Group in the 1st quarter worth approximately $47,000. UMB Bank n.a. increased its stake in shares of American International Group by 9.4% during the first quarter. UMB Bank n.a. now owns 1,961 shares of the insurance provider’s stock valued at $170,000 after buying an additional 168 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of American International Group by 1.6% during the first quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider’s stock valued at $704,000 after buying an additional 124 shares during the period. Finally, OLD National Bancorp IN increased its stake in shares of American International Group by 34.6% during the first quarter. OLD National Bancorp IN now owns 8,594 shares of the insurance provider’s stock valued at $747,000 after buying an additional 2,208 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.