Barclays Initiates Coverage on American International Group (NYSE:AIG)

Barclays assumed coverage on shares of American International Group (NYSE:AIG) in a report published on Wednesday, Marketbeat reports. The firm issued an overweight rating and a $90.00 price objective on the insurance provider’s stock.

Several other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $96.00 to $90.00 and set an outperform rating for the company in a research note on Monday, August 12th. Royal Bank of Canada restated an outperform rating and set a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. Bank of America raised their price target on American International Group from $81.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their price target on American International Group from $79.00 to $77.00 and set an equal weight rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen cut their price target on American International Group from $83.00 to $80.00 and set a hold rating on the stock in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $83.88.

American International Group Trading Down 2.6 %

Shares of AIG stock opened at $71.91 on Wednesday. American International Group has a 52-week low of $57.72 and a 52-week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $47.72 billion, a PE ratio of 10.73, a PEG ratio of 3.84 and a beta of 1.06. The stock has a fifty day simple moving average of $75.02 and a two-hundred day simple moving average of $75.60.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. On average, analysts predict that American International Group will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is presently 23.88%.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of American International Group

A number of institutional investors and hedge funds have recently made changes to their positions in AIG. Norges Bank purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $746,005,000. Swedbank AB purchased a new stake in shares of American International Group during the first quarter worth approximately $99,951,000. Canada Pension Plan Investment Board increased its position in shares of American International Group by 98.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after purchasing an additional 941,607 shares in the last quarter. Bank of Montreal Can increased its position in shares of American International Group by 83.6% during the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after purchasing an additional 597,765 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of American International Group by 95.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock worth $82,772,000 after purchasing an additional 597,661 shares in the last quarter. 90.60% of the stock is currently 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.