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

American International Group (NYSE:AIG) had its price objective decreased by HSBC from $91.00 to $86.00 in a research note published on Friday,MarketScreener reports. HSBC currently has a buy rating on the insurance provider’s stock.

Several other research firms also recently commented on AIG. Cantor Fitzgerald reduced their price target on shares of American International Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Royal Bank Of Canada assumed coverage on shares of American International Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 target price on the stock. Piper Sandler lifted their price target on shares of American International Group from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Barclays dropped their price objective on American International Group from $88.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Finally, Keefe, Bruyette & Woods raised their price objective on American International Group from $91.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Hold” and an average price target of $87.68.

American International Group Trading Down 1.6%

Shares of NYSE AIG opened at $72.85 on Friday. American International Group has a fifty-two week low of $71.74 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $39.31 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.70 and a beta of 0.62. The business’s 50 day moving average price is $79.63 and its 200-day moving average price is $79.74.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the company posted $1.23 EPS. On average, sell-side analysts expect that American International Group will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th were issued a $0.45 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. American International Group’s dividend payout ratio (DPR) is currently 32.73%.

Institutional Investors Weigh In On American International Group

Institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings in American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares in the last quarter. Norges Bank bought a new position in shares of American International Group during the 2nd quarter worth approximately $787,724,000. Vanguard Group Inc. raised its stake in shares of American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after acquiring an additional 7,117,583 shares in the last quarter. Wellington Management Group LLP lifted its position in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after acquiring an additional 1,899,203 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after acquiring an additional 1,846,979 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.