American International Group (NYSE:AIG) Stock Gets Price Target Trim from Mizuho

American International Group (NYSE:AIG) had its price objective cut by Mizuho from $85.00 to $83.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

AIG has been the topic of several other reports. Keefe, Bruyette & Woods boosted their target price on American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Wells Fargo & Company lowered their price target on 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. UBS Group lifted their price target on American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler upped their price target on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, The Goldman Sachs Group increased their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, American International Group has an average rating of “Hold” and an average target price of $88.11.

American International Group Price Performance

Shares of NYSE AIG opened at $76.99 on Wednesday. The company has a 50 day simple moving average of $76.17 and a two-hundred day simple moving average of $76.46. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 0.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the previous year, the firm posted $1.81 EPS. Analysts expect that American International Group will post 8.02 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. American International Group’s dividend payout ratio (DPR) is presently 36.56%.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently bought and sold shares of AIG. Wellington Management Group LLP boosted its holdings in shares of American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares during the last quarter. State Street Corp raised its holdings in shares of American International Group by 0.8% during the second quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock valued at $1,871,852,000 after purchasing an additional 196,969 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after purchasing an additional 474,035 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in American International Group during the second quarter valued at approximately $464,539,000. Finally, Dimensional Fund Advisors LP lifted its position in American International Group by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock valued at $462,147,000 after purchasing an additional 303,201 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.