American International Group (NYSE:AIG) Stock Rating Lowered by BMO Capital Markets

American International Group (NYSE:AIG) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $84.00 target price on the insurance provider’s stock, down from their prior target price of $90.00. BMO Capital Markets’ price target indicates a potential upside of 8.88% from the company’s current price.

AIG has been the topic of several other research reports. TD Cowen reduced their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Tuesday, July 9th. Bank of America increased their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, Wells Fargo & Company dropped their target price on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.38.

American International Group Trading Up 0.2 %

AIG stock opened at $77.15 on Tuesday. The company has a market capitalization of $51.20 billion, a PE ratio of 11.51, a P/E/G ratio of 3.88 and a beta of 1.06. American International Group has a 12 month low of $58.69 and a 12 month high of $80.83. The firm’s 50-day moving average is $74.16 and its 200 day moving average is $75.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS. On average, research analysts anticipate that American International Group will post 5.09 EPS for the current year.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by company insiders.

Institutional Trading of American International Group

Large investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew its position in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management lifted its stake in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 9,805 shares during the period. Bessemer Group Inc. lifted its stake in American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after acquiring an additional 11,149 shares during the period. Coronation Fund Managers Ltd. acquired a new stake in American International Group during the 1st quarter valued at approximately $1,367,000. Finally, Illinois Municipal Retirement Fund lifted its stake in American International Group by 19.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock valued at $12,206,000 after acquiring an additional 24,906 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.