Cantor Fitzgerald Cuts American International Group (NYSE:AIG) Price Target to $90.00

American International Group (NYSE:AIG) had its price target decreased by Cantor Fitzgerald from $92.00 to $90.00 in a research report released on Monday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the insurance provider’s stock.

A number of other equities analysts have also recently weighed in on AIG. Barclays upped their price target on American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. HSBC reduced their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group raised their price target on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Wells Fargo & Company dropped their price target on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, August 10th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $88.28.

American International Group Price Performance

Shares of NYSE AIG opened at $75.81 on Monday. American International Group has a 1-year low of $71.25 and a 1-year high of $87.29. The business has a 50-day moving average of $77.67 and a 200-day moving average of $76.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $39.64 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.69 and a beta of 0.53.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter last year, the firm earned $1.81 earnings per share. On average, equities analysts anticipate that American International Group will post 8.01 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group’s payout ratio is currently 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Institutional Trading of American International Group

Several institutional investors have recently added to or reduced their stakes in the stock. Modus Advisors LLC bought a new position in American International Group during the 4th quarter valued at $27,000. Navalign LLC bought a new stake in shares of American International Group in the 4th quarter worth about $29,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of American International Group in the 4th quarter valued at about $29,000. First Bancorp Inc ME acquired a new stake in shares of American International Group in the 2nd quarter valued at about $30,000. Finally, SHP Wealth Management bought a new position in shares of American International Group during the fourth quarter worth about $34,000. 90.60% of the stock is owned by institutional investors and hedge funds.

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.