Mizuho Cuts American International Group (NYSE:AIG) Price Target to $84.00

American International Group (NYSE:AIG) had its price objective cut by Mizuho from $86.00 to $84.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Several other brokerages have also issued reports on AIG. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. Cantor Fitzgerald lifted their price target on American International Group from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. HSBC dropped their price target on American International Group from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Barclays dropped their price target on American International Group from $79.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 7th. Finally, Bank of America dropped their price target on American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, January 16th. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.41.

American International Group Price Performance

American International Group stock opened at $77.14 on Monday. American International Group has a 52 week low of $71.25 and a 52 week high of $87.46. The business has a 50-day simple moving average of $77.21 and a 200 day simple moving average of $78.22. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market cap of $41.41 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.59 and a beta of 0.59.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, February 12th. The insurance provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period in the previous year, the business earned $1.30 earnings per share. On average, research analysts forecast that American International Group will post 6.24 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, March 30th. Stockholders of record on Monday, March 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, March 16th. American International Group’s payout ratio is 33.21%.

Institutional Investors Weigh In On American International Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in shares of American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after acquiring an additional 130 shares during the last quarter. First Bank & Trust lifted its stake in shares of American International Group by 2.2% in the 3rd quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock valued at $475,000 after acquiring an additional 131 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of American International Group by 17.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 131 shares during the last quarter. Finally, Howard Capital Management Inc. lifted its stake in shares of American International Group by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock valued at $370,000 after acquiring an additional 138 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.