UBS Group Cuts American International Group (NYSE:AIG) Price Target to $86.00

American International Group (NYSE:AIG) had its target price trimmed by UBS Group from $88.00 to $86.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

AIG has been the subject of several other research reports. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. Wells Fargo & Company increased their price target on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and an average target price of $83.94.

American International Group Stock Up 1.3 %

Shares of NYSE:AIG opened at $76.27 on Tuesday. The company has a market capitalization of $45.25 billion, a PE ratio of -36.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The business has a fifty day moving average price of $73.60 and a two-hundred day moving average price of $74.44. American International Group has a 1 year low of $68.15 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Analysts forecast that American International Group will post 6.32 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. American International Group’s payout ratio is currently -76.92%.

Insider Buying and Selling at American International Group

In other American International Group news, Director John G. Rice purchased 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Large investors have recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC purchased a new position in shares of American International Group during the 3rd quarter valued at about $494,000. Artemis Investment Management LLP raised its holdings in shares of American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after buying an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in shares of American International Group by 5.2% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after buying an additional 3,490 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of American International Group during the 4th quarter valued at about $1,260,000. Finally, Williams & Novak LLC purchased a new position in shares of American International Group during the 4th quarter valued at about $279,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.