BidaskClub downgraded shares of American International Group, Inc. (NYSE:AIG) from a sell rating to a strong sell rating in a research report released on Friday.

Several other brokerages have also recently weighed in on AIG. TheStreet upgraded shares of American International Group from a c rating to a b- rating in a research note on Wednesday, May 3rd. Morgan Stanley upgraded shares of American International Group from an equal weight rating to an overweight rating and dropped their target price for the company from $62.87 to $61.82 in a research report on Tuesday, May 16th. Zacks Investment Research upgraded shares of American International Group from a hold rating to a buy rating and set a $70.00 target price for the company in a research report on Wednesday, July 5th. Wells Fargo & Company restated a buy rating on shares of American International Group in a research report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods restated a buy rating and issued a $75.00 target price on shares of American International Group in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $69.02.

American International Group (NYSE AIG) traded up 0.91% on Friday, reaching $60.78. The company’s stock had a trading volume of 5,877,551 shares. The company’s market capitalization is $54.91 billion. The stock has a 50 day moving average price of $63.61 and a 200-day moving average price of $62.85. American International Group has a 1-year low of $57.35 and a 1-year high of $67.47.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.20 by $0.33. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same quarter in the previous year, the firm posted $0.98 EPS. Equities analysts predict that American International Group will post $5.34 earnings per share for the current fiscal year.

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American International Group declared that its board has initiated a share buyback plan on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.11%. American International Group’s payout ratio is presently -711.07%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Israel Discount Bank of New York purchased a new stake in shares of American International Group during the first quarter valued at approximately $145,000. Peddock Capital Advisors LLC raised its position in American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock valued at $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. raised its position in American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in American International Group by 30.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock valued at $192,000 after buying an additional 716 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.

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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