American International Group (AIG) Receives New Coverage from Analysts at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of American International Group (NYSE:AIG) in a report issued on Monday morning. The firm issued a neutral rating and a $61.00 target price on the insurance provider’s stock.

A number of other analysts also recently issued reports on AIG. B. Riley reaffirmed a neutral rating on shares of American International Group in a report on Monday, November 6th. Bank of America downgraded shares of American International Group from a buy rating to a neutral rating and set a $69.00 price objective for the company. in a report on Friday, November 3rd. Zacks Investment Research downgraded shares of American International Group from a hold rating to a sell rating in a report on Monday, October 30th. Wells Fargo & Company set a $75.00 price objective on shares of American International Group and gave the stock a buy rating in a report on Tuesday, October 17th. Finally, Barclays dropped their price objective on shares of American International Group from $74.00 to $71.00 and set an overweight rating for the company in a report on Monday, October 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $67.81.

American International Group (AIG) traded down $0.62 on Monday, hitting $59.26. 5,815,800 shares of the stock were exchanged, compared to its average volume of 5,892,148. The stock has a market cap of $53,600.00, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.97 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.26 and a quick ratio of 0.26. American International Group has a 12-month low of $57.90 and a 12-month high of $67.47.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($2.45). The firm had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.05 billion. American International Group had a negative net margin of 5.07% and a positive return on equity of 3.43%. During the same quarter last year, the firm earned $1.23 earnings per share. research analysts forecast that American International Group will post 2.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 7th. American International Group’s dividend payout ratio is presently -51.41%.

A number of institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of American International Group by 121.9% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,631,331 shares of the insurance provider’s stock valued at $959,607,000 after acquiring an additional 8,586,682 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of American International Group by 12.6% during the second quarter. Canada Pension Plan Investment Board now owns 11,631,827 shares of the insurance provider’s stock valued at $727,222,000 after buying an additional 1,300,900 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of American International Group by 27.1% during the second quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock valued at $616,283,000 after buying an additional 2,103,522 shares during the period. Alliancebernstein L.P. increased its position in shares of American International Group by 1.7% during the second quarter. Alliancebernstein L.P. now owns 9,432,868 shares of the insurance provider’s stock valued at $589,743,000 after buying an additional 159,529 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of American International Group by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 8,904,042 shares of the insurance provider’s stock valued at $556,681,000 after buying an additional 584,450 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.

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About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

Analyst Recommendations for American International Group (NYSE:AIG)

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