Mizuho Cuts American International Group (NYSE:AIG) Price Target to $85.00

American International Group (NYSE:AIG) had its price objective decreased by Mizuho from $86.00 to $85.00 in a research report report published on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the insurance provider’s stock.

AIG has been the subject of several other research reports. Piper Sandler raised their price target on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. JPMorgan Chase & Co. upped their price objective on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company decreased their price objective on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Barclays increased their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Morgan Stanley lowered their target price on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.16.

American International Group Trading Down 0.4%

NYSE AIG opened at $75.41 on Wednesday. The firm has a market capitalization of $39.43 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.50. The business’s 50-day moving average price is $77.38 and its two-hundred day moving average price is $76.69. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same period last year, the company earned $1.81 earnings per share. On average, analysts expect that American International Group will post 8.02 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.7%. American International Group’s payout ratio is 36.56%.

Insider Activity

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the transaction, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Modus Advisors LLC acquired a new stake in American International Group in the fourth quarter worth $27,000. First Bancorp Inc ME bought a new position in shares of American International Group during the 2nd quarter worth about $30,000. SHP Wealth Management bought a new position in shares of American International Group during the 4th quarter worth about $34,000. Fiduciary Financial Advisors acquired a new stake in shares of American International Group in the 2nd quarter valued at about $34,000. Finally, CENTRAL TRUST Co grew its stake in shares of American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.