American International Group (NYSE:AIG) Price Target Raised to $89.00 at Wells Fargo & Company

American International Group (NYSE:AIGGet Free Report) had its price target boosted by analysts at Wells Fargo & Company from $85.00 to $89.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 12.25% from the stock’s previous close.

A number of other equities analysts also recently issued reports on AIG. Citigroup increased their target price on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Barclays lifted their price target on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. The Goldman Sachs Group upped their price objective on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Bank of America reduced their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Finally, UBS Group boosted their target price on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.44.

View Our Latest Research Report on AIG

American International Group Stock Performance

NYSE:AIG traded down $0.33 during trading hours on Thursday, reaching $79.29. 935,536 shares of the company’s stock were exchanged, compared to its average volume of 4,523,839. American International Group has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $42.04 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.74 and a beta of 0.53. The company has a 50-day moving average of $76.01 and a 200 day moving average of $77.02.

American International Group (NYSE:AIGGet Free Report) last released its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the previous year, the company posted $1.17 earnings per share. Research analysts anticipate that American International Group will post 7.98 EPS for the current year.

Hedge Funds Weigh In On American International Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in American International Group by 129.9% in the 4th quarter. Nordea Investment Management AB now owns 136,069 shares of the insurance provider’s stock valued at $11,695,000 after acquiring an additional 76,874 shares during the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of American International Group during the fourth quarter worth $1,269,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of American International Group by 20.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,932 shares of the insurance provider’s stock valued at $7,608,000 after purchasing an additional 15,116 shares during the period. Board of the Pension Protection Fund grew its position in shares of American International Group by 296.1% in the fourth quarter. Board of the Pension Protection Fund now owns 20,200 shares of the insurance provider’s stock valued at $1,728,000 after purchasing an additional 15,100 shares during the period. Finally, Wellington Management Group LLP increased its stake in American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after purchasing an additional 1,899,203 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting American International Group

Here are the key news stories impacting American International Group this week:

American International Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for American International Group (NYSE:AIG)

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