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

American International Group (NYSE:AIG – Get Free Report) had its price objective raised by equities research analysts at Wells Fargo & Company from $83.00 to $85.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 2.93% from the stock’s current price.

AIG has been the topic of a number of other reports. Morgan Stanley reduced their price objective on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. UBS Group raised their price target on American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Royal Bank Of Canada lifted their price objective on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. upped their price objective on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $87.79.

Check Out Our Latest Research Report on AIG

American International Group Stock Performance

Shares of NYSE:AIG opened at $82.58 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group has a 1-year low of $71.25 and a 1-year high of $87.29. The stock has a market capitalization of $43.18 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.84 and a beta of 0.48. The business has a 50-day moving average price of $77.36 and a two-hundred day moving average price of $76.87.

American International Group (NYSE:AIG – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 EPS for the quarter, topping the consensus estimate of $1.88 by $0.18. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.42 billion. American International Group had a net margin of 11.86% and a return on equity of 10.73%. During the same quarter in the previous year, the company earned $2.20 EPS. Equities analysts predict that American International Group will post 8.07 earnings per share for the current year.

Insider Activity at American International Group

In related news, insider Peter Zaffino sold 36,829 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the sale, the insider owned 556,004 shares in the company, valued at $42,334,144.56. This represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC lifted its holdings in shares of American International Group by 30.3% during the 3rd quarter. Lido Advisors LLC now owns 32,335 shares of the insurance provider’s stock valued at $2,406,000 after purchasing an additional 7,524 shares in the last quarter. Keybank National Association OH increased its stake in American International Group by 10.6% during the 3rd quarter. Keybank National Association OH now owns 12,247 shares of the insurance provider’s stock worth $911,000 after purchasing an additional 1,174 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in American International Group by 14.7% during the 3rd quarter. Gryphon Financial Partners LLC now owns 3,277 shares of the insurance provider’s stock worth $244,000 after buying an additional 421 shares during the period. Kestra Investment Management LLC bought a new position in American International Group in the third quarter valued at approximately $324,000. Finally, Fulcrum Asset Management LLP bought a new position in American International Group in the third quarter valued at approximately $1,463,000. 90.60% of the stock is currently owned by institutional investors.

Key Headlines Impacting American International Group

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

About American International Group

(Get Free Report)

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.

Further Reading

Analyst Recommendations for American International Group (NYSE:AIG)

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