American International Group (NYSE:AIG) Given New $86.00 Price Target at JPMorgan Chase & Co.

American International Group (NYSE:AIG) had its price objective lowered by JPMorgan Chase & Co. from $97.00 to $86.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Evercore lowered their target price on shares of American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. Mizuho lowered their target price on shares of American International Group from $86.00 to $84.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Morgan Stanley lowered their target price on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Finally, Barclays reduced their price target on shares of American International Group from $79.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, American International Group has a consensus rating of “Hold” and an average target price of $86.76.

American International Group Trading Down 0.2%

AIG stock opened at $78.49 on Monday. The company’s 50-day simple moving average is $77.36 and its 200-day simple moving average is $78.20. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group has a 52-week low of $71.25 and a 52-week high of $87.46. The firm has a market cap of $42.14 billion, a P/E ratio of 14.48, a PEG ratio of 0.60 and a beta of 0.59.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period in the prior year, the company posted $1.30 EPS. As a group, equities analysts forecast that American International Group will post 7.79 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, March 16th. American International Group’s dividend payout ratio is 33.21%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AIG. Capital Research Global Investors raised its holdings in American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after acquiring an additional 12,645,616 shares during the last quarter. Norges Bank acquired a new stake in American International Group in the 4th quarter valued at about $636,782,000. Vanguard Group Inc. raised its holdings in American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after acquiring an additional 4,210,363 shares during the last quarter. Institutional investors and hedge funds 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.