Barclays Initiates Coverage on American International Group (NYSE:AIG)

Barclays assumed coverage on shares of American International Group (NYSE:AIG) in a report issued on Wednesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $90.00 target price on the insurance provider’s stock.

A number of other research firms have also weighed in on AIG. StockNews.com lowered American International Group from a hold rating to a sell rating in a research note on Monday, August 5th. HSBC lowered American International Group from a buy rating to a hold rating and set a $86.00 price target on the stock. in a research note on Wednesday, May 15th. Bank of America upped their price target on American International Group from $81.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Morgan Stanley decreased their price target on American International Group from $82.00 to $80.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods decreased their price target on American International Group from $96.00 to $90.00 and set an outperform rating on the stock in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $83.88.

American International Group Stock Performance

NYSE AIG opened at $71.91 on Wednesday. The stock’s fifty day moving average is $75.02 and its two-hundred day moving average is $75.60. The firm has a market capitalization of $47.72 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 3.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group has a fifty-two week low of $57.72 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. On average, research analysts anticipate that American International Group will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. American International Group’s payout ratio is currently 23.88%.

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd acquired a new stake in American International Group during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC lifted its holdings in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after buying an additional 239 shares during the period. Valued Wealth Advisors LLC lifted its holdings in shares of American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares during the period. Rise Advisors LLC acquired a new stake in shares of American International Group in the 1st quarter valued at approximately $29,000. Finally, Versant Capital Management Inc lifted its holdings in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after buying an additional 339 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 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.