Evercore ISI Cuts American International Group (NYSE:AIG) Price Target to $85.00

American International Group (NYSE:AIG) had its price objective cut by Evercore ISI from $90.00 to $85.00 in a research report report published on Friday morning,MarketScreener reports.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods increased their target price on shares of American International Group from $91.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. The Goldman Sachs Group raised their price target on shares of American International Group from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Jefferies Financial Group upped their price objective on shares of American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Wells Fargo & Company raised their target price on shares of American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Two investment 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $87.42.

American International Group Trading Down 0.1%

Shares of American International Group stock opened at $72.23 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. American International Group has a twelve month low of $71.25 and a twelve month high of $88.07. The firm has a market capitalization of $38.97 billion, a PE ratio of 13.13, a P/E/G ratio of 0.75 and a beta of 0.62. The firm’s 50-day moving average price is $79.12 and its 200 day moving average price is $79.37.

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

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, December 16th. American International Group’s payout ratio is presently 32.73%.

Institutional Trading of American International Group

Several institutional investors have recently made changes to their positions in AIG. Brighton Jones LLC acquired a new stake in American International Group during the fourth quarter worth $1,091,000. Sivia Capital Partners LLC grew its holdings in shares of American International Group by 30.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock worth $432,000 after purchasing an additional 1,185 shares during the period. Ballentine Partners LLC increased its position in shares of American International Group by 9.6% during the 2nd quarter. Ballentine Partners LLC now owns 2,892 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 254 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in American International Group by 4.0% in the 2nd quarter. Perigon Wealth Management LLC now owns 6,468 shares of the insurance provider’s stock valued at $554,000 after buying an additional 250 shares during the period. Finally, PFS Partners LLC lifted its position in American International Group by 16.7% in the second quarter. PFS Partners LLC now owns 70,011 shares of the insurance provider’s stock valued at $5,992,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

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.