JPMorgan Chase & Co. Cuts American International Group (NYSE:AIG) Price Target to $83.00

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

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Jefferies Financial Group lifted their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.40.

American International Group Stock Performance

Shares of American International Group stock opened at $72.81 on Friday. The firm 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. American International Group has a 1 year low of $66.06 and a 1 year high of $80.83. The firm’s 50-day simple moving average is $74.67 and its 200-day simple moving average is $74.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last issued 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 firm 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 period in the prior year, the business earned $1.61 EPS. Equities analysts forecast that American International Group will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a dividend of $0.40 per share. 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 (DPR) is currently -47.20%.

Institutional Trading of American International Group

Several large investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc acquired a new stake in American International Group in the 3rd quarter worth approximately $26,000. Y.D. More Investments Ltd acquired a new stake in shares of American International Group in the second quarter worth $27,000. True Wealth Design LLC bought a new stake in shares of American International Group during the 3rd quarter worth $29,000. Continuum Advisory LLC grew its stake in American International Group by 60.7% in the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after buying an additional 207 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in American International Group in the 3rd quarter valued at $46,000. 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.