American International Group (NYSE:AIG) Lifted to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of American International Group (NYSE:AIG) from a neutral rating to an overweight rating in a report issued on Thursday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $89.00 price target on the insurance provider’s stock, down from their previous price target of $93.00.

Several other analysts also recently issued reports on AIG. BMO Capital Markets raised their price objective on shares of American International Group from $87.00 to $90.00 and gave the stock an outperform rating in a research note on Friday, October 4th. Wells Fargo & Company decreased their price objective on shares of American International Group from $79.00 to $77.00 and set an equal weight rating for the company in a research note on Friday, August 9th. TD Cowen decreased their price target on shares of American International Group from $83.00 to $80.00 and set a hold rating for the company in a research note on Tuesday, August 13th. Royal Bank of Canada reaffirmed an outperform rating and set a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. Finally, Bank of America lifted their price target on shares of American International Group from $81.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $84.50.

American International Group Trading Up 1.2 %

AIG opened at $76.52 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a market cap of $49.27 billion, a P/E ratio of -59.31, a P/E/G ratio of 3.88 and a beta of 1.06. American International Group has a 12 month low of $58.69 and a 12 month high of $80.83. The stock has a 50-day moving average of $73.66 and a 200 day moving average of $75.51.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 EPS. As a group, research analysts forecast that American International Group will post 5.09 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio is currently -124.03%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group during the third quarter valued at $26,000. Fortitude Family Office LLC grew its holdings in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after buying an additional 239 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of American International Group during the second quarter valued at $27,000. Rise Advisors LLC purchased a new stake in shares of American International Group during the first quarter valued at $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares during the last quarter. 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.