American International Group (NYSE:AIG) Rating Lowered to Market Perform at BMO Capital Markets

American International Group (NYSE:AIG) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, FinViz reports. They presently have a $84.00 price objective on the insurance provider’s stock, down from their prior price objective of $90.00. BMO Capital Markets’ price objective would indicate a potential upside of 8.18% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Bank of America lifted their price objective 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. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Morgan Stanley dropped their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen dropped 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 report on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods dropped their price target on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $84.13.

American International Group Trading Up 0.5 %

Shares of AIG stock opened at $77.65 on Tuesday. The firm has a market cap of $51.53 billion, a P/E ratio of 11.59, a PEG ratio of 3.88 and a beta of 1.06. American International Group has a 1-year low of $58.69 and a 1-year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50-day simple moving average is $73.91 and its 200-day simple moving average is $75.48.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the business earned $1.75 EPS. The firm’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts forecast that American International Group will post 5.09 EPS for the current year.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of American International Group by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock worth $477,802,000 after buying an additional 269,188 shares during the period. Clearbridge Investments LLC raised its stake in shares of American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after purchasing an additional 31,340 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock worth $233,743,000 after acquiring an additional 198,889 shares during the last quarter. APG Asset Management N.V. increased its holdings in American International Group by 13.3% in the 2nd quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock worth $152,411,000 after acquiring an additional 258,700 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in American International Group by 98.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after acquiring an additional 941,607 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

About American International Group

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.