American International Group, Inc. (AIG) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of American International Group, Inc. (NYSE:AIG) from a hold rating to a sell rating in a research note published on Sunday.

Several other equities research analysts also recently commented on the stock. Deutsche Bank AG reissued a sell rating and set a $60.00 target price (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Atlantic Securities downgraded shares of American International Group from an overweight rating to a neutral rating and set a $70.00 target price for the company. in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods reissued a buy rating and set a $75.00 target price on shares of American International Group in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of American International Group from a sell rating to a hold rating in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company reissued a buy rating on shares of American International Group in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $69.02.

American International Group (AIG) opened at 63.03 on Friday. The stock has a 50 day moving average price of $64.06 and a 200 day moving average price of $63.01. The company’s market cap is $56.94 billion. American International Group has a one year low of $57.35 and a one year high of $67.47.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.20 by $0.33. The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate that American International Group will post $5.28 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is currently -711.07%.

American International Group announced that its Board of Directors has approved a share buyback plan on Wednesday, May 3rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other American International Group news, CEO Brian Duperreault purchased 80,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the purchase, the chief executive officer now owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. boosted its stake in shares of American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock worth $12,183,000 after buying an additional 152,647 shares during the last quarter. Eastern Bank boosted its stake in shares of American International Group by 3.0% in the first quarter. Eastern Bank now owns 7,231 shares of the insurance provider’s stock worth $451,000 after buying an additional 210 shares during the last quarter. Regent Investment Management LLC boosted its stake in shares of American International Group by 27.5% in the first quarter. Regent Investment Management LLC now owns 23,285 shares of the insurance provider’s stock worth $1,454,000 after buying an additional 5,025 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of American International Group by 37.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 55,497 shares of the insurance provider’s stock worth $3,424,000 after buying an additional 15,007 shares during the last quarter. Finally, Benson Investment Management Company Inc. acquired a new stake in shares of American International Group during the first quarter worth approximately $2,298,000. Institutional investors own 87.76% of the company’s stock.

About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

Analyst Recommendations for American International Group (NYSE:AIG)

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