American International Group (NYSE:AIG) Price Target Lowered to $88.00 at HSBC

American International Group (NYSE:AIG) had its price objective reduced by HSBC from $94.00 to $88.00 in a research note issued to investors on Monday,Benzinga reports. HSBC currently has a buy rating on the insurance provider’s stock.

A number of other brokerages also recently commented on AIG. JPMorgan Chase & Co. reduced their price objective on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Cantor Fitzgerald boosted their target price on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Bank of America reduced their price objective on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Mizuho increased their target price on American International Group from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Citigroup upped their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, American International Group has a consensus rating of “Hold” and a consensus price target of $87.61.

American International Group Trading Up 1.4%

American International Group stock opened at $81.85 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29. The company’s fifty day simple moving average is $75.69 and its 200-day simple moving average is $77.13. The stock has a market cap of $43.40 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.73 and a beta of 0.53.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the company posted $1.17 earnings per share. As a group, sell-side analysts forecast that American International Group will post 7.98 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. This is a boost from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is presently 35.27%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors lifted its position in American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after acquiring an additional 12,645,616 shares in the last quarter. Norges Bank acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $636,782,000. Price T Rowe Associates Inc. MD boosted its holdings in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after purchasing an additional 4,661,246 shares during the last quarter. Franklin Resources Inc. grew its position in American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares during 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.