American International Group (NYSE:AIG) Price Target Lowered to $85.00 at Evercore ISI

American International Group (NYSE:AIG) had its target price reduced by Evercore ISI from $90.00 to $85.00 in a report issued on Friday,MarketScreener reports.

AIG has been the topic of a number of other reports. UBS Group boosted their price target on shares of American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Piper Sandler lifted their price target on shares of American International Group from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. HSBC reduced their target price on American International Group from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Morgan Stanley lowered their price target on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Mizuho reduced their price objective on shares of American International Group from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus target price of $87.42.

American International Group Price Performance

AIG stock traded down $0.08 during trading on Friday, hitting $72.23. The stock had a trading volume of 3,858,516 shares, compared to its average volume of 5,252,787. American International Group has a twelve month low of $71.25 and a twelve month high of $88.07. The company’s 50-day moving average price is $79.12 and its two-hundred day moving average price is $79.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $38.97 billion, a P/E ratio of 13.13, a PEG ratio of 0.75 and a beta of 0.62.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, research analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, December 16th. American International Group’s payout ratio is 32.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Capital Research Global Investors boosted its holdings in shares of 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 buying an additional 12,645,616 shares in the last quarter. Norges Bank purchased a new stake in American International Group in the second quarter valued at $787,724,000. Vanguard Group Inc. boosted its stake in American International Group by 11.6% in the third 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 in the last quarter. Wellington Management Group LLP grew its holdings in shares of American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after purchasing an additional 1,846,979 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

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.