American International Group (NYSE:AIG) Price Target Cut to $83.00 by Analysts at JPMorgan Chase & Co.

American International Group (NYSE:AIG) had its target price decreased by JPMorgan Chase & Co. from $89.00 to $83.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the insurance provider’s stock.

Several other brokerages have also commented on AIG. Evercore ISI decreased their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Bank of America lifted their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods decreased their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. UBS Group lifted their price target on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, American International Group currently has a consensus rating of “Moderate Buy” and an average target price of $84.40.

American International Group Price Performance

Shares of American International Group stock opened at $72.81 on Friday. American International Group has a fifty-two week low of $66.06 and a fifty-two week high of $80.83. The company has a market cap of $45.42 billion, a PE ratio of -21.48, a price-to-earnings-growth ratio of 7.30 and a beta of 1.05. The firm has a fifty day moving average price of $74.67 and a two-hundred day moving average price of $74.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter last year, the company earned $1.61 EPS. Analysts expect that American International Group will post 5.12 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.20%. American International Group’s dividend payout ratio is currently -47.20%.

Institutional Trading of American International Group

A number of institutional investors have recently bought and sold shares of AIG. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group in the 3rd quarter valued at $26,000. Y.D. More Investments Ltd bought a new stake in American International Group in the second quarter valued at about $27,000. True Wealth Design LLC acquired a new position in American International Group in the third quarter valued at about $29,000. Continuum Advisory LLC boosted its holdings in American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after buying an additional 207 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of American International Group during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

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.