Wells Fargo & Company Raises American International Group (NYSE:AIG) Price Target to $83.00

American International Group (NYSE:AIG) had its price objective hoisted by stock analysts at Wells Fargo & Company from $82.00 to $83.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.67% from the stock’s current price.

AIG has been the topic of a number of other research reports. William Blair raised shares of American International Group to a “strong-buy” rating in a report on Friday, August 1st. Bank of America increased their price target on American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Citigroup started coverage on shares of American International Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price target on the stock. Morgan Stanley dropped their price objective on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Cfra Research raised American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and an average target price of $90.00.

American International Group Price Performance

Shares of AIG stock traded up $0.93 during mid-day trading on Wednesday, reaching $77.08. The stock had a trading volume of 443,275 shares, compared to its average volume of 4,499,461. The business has a 50-day simple moving average of $78.95 and a 200 day simple moving average of $81.11. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a market cap of $41.59 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, November 4th. The insurance provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, sell-side analysts anticipate that American International Group will post 6.24 earnings per share for the current year.

Institutional Trading of American International Group

Several large investors have recently modified their holdings of the company. Westfuller Advisors LLC purchased a new position in shares of American International Group in the third quarter valued at about $26,000. Atlantic Union Bankshares Corp raised its stake in American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares during the last quarter. Sachetta LLC increased its holdings in American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after buying an additional 249 shares during the period. GFG Capital LLC acquired a new stake in shares of American International Group during the 2nd quarter worth approximately $33,000. Finally, Eastern Bank increased its holdings in American International Group by 2,473.3% in the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 371 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

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.