American International Group, Inc. (AIG) Downgraded by BidaskClub

BidaskClub downgraded shares of American International Group, Inc. (NYSE:AIG) from a hold rating to a sell rating in a report released on Monday, July 24th.

Several other equities research analysts have also recently issued reports on AIG. Morgan Stanley upgraded shares of American International Group from an equal weight rating to an overweight rating and cut their price objective for the stock from $62.87 to $61.82 in a research report on Tuesday, May 16th. J P Morgan Chase & Co cut their price objective on shares of American International Group from $69.00 to $65.00 and set a neutral rating for the company in a research report on Monday, April 3rd. Vetr upgraded shares of American International Group from a buy rating to a strong-buy rating and set a $72.50 price objective for the company in a research report on Tuesday, March 28th. Zacks Investment Research upgraded shares of American International Group from a hold rating to a buy rating and set a $70.00 price objective for the company in a research report on Wednesday, July 5th. Finally, Wells Fargo & Company restated a buy rating on shares of American International Group in a research report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $69.02.

Shares of American International Group (AIG) opened at 61.34 on Monday. American International Group has a one year low of $57.35 and a one year high of $67.47. The firm has a 50-day moving average of $63.93 and a 200-day moving average of $62.98. The company’s market capitalization is $55.41 billion. American International Group also was the target of some unusual options trading activity on Wednesday. Stock investors bought 12,371 call options on the company. This represents an increase of 249% compared to the average daily volume of 3,541 call options.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.33. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same period in the prior year, the business earned $0.98 earnings per share. Analysts forecast that American International Group will post $5.28 earnings per share for the current year.

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American International Group declared that its board has approved a stock buyback plan on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the insurance provider to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is -711.07%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kentucky Retirement Systems acquired a new position in American International Group during the fourth quarter valued at approximately $4,624,000. Sigma Planning Corp raised its position in American International Group by 15.6% in the first quarter. Sigma Planning Corp now owns 3,680 shares of the insurance provider’s stock valued at $230,000 after buying an additional 496 shares during the last quarter. Wealthfront Inc. raised its position in American International Group by 38.3% in the fourth quarter. Wealthfront Inc. now owns 16,873 shares of the insurance provider’s stock valued at $1,102,000 after buying an additional 4,670 shares during the last quarter. Blue Granite Capital LLC raised its position in American International Group by 11.8% in the first quarter. Blue Granite Capital LLC now owns 38,000 shares of the insurance provider’s stock valued at $2,372,000 after buying an additional 4,000 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its position in American International Group by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 4,342,201 shares of the insurance provider’s stock valued at $271,084,000 after buying an additional 474,434 shares during the last quarter. 87.76% of the stock is owned by institutional investors and hedge funds.

About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.