Wells Fargo & Company Boosts American International Group (NYSE:AIG) Price Target to $80.00

American International Group (NYSE:AIGFree Report) had its price target lifted by Wells Fargo & Company from $74.00 to $80.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Several other brokerages have also issued reports on AIG. Piper Sandler reaffirmed an overweight rating and issued a $87.00 target price on shares of American International Group in a research note on Monday, April 1st. HSBC started coverage on shares of American International Group in a research report on Thursday, December 28th. They set a buy rating and a $86.00 target price for the company. Royal Bank of Canada raised their price target on American International Group from $76.00 to $80.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods upped their price objective on American International Group from $82.00 to $86.00 and gave the company an outperform rating in a report on Wednesday. Finally, TD Cowen started coverage on American International Group in a report on Wednesday, January 10th. They set a market perform rating and a $78.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, American International Group presently has an average rating of Hold and a consensus price target of $77.35.

View Our Latest Research Report on AIG

American International Group Stock Performance

AIG stock opened at $73.68 on Thursday. The company has a 50 day moving average price of $73.77 and a 200 day moving average price of $68.04. American International Group has a fifty-two week low of $48.95 and a fifty-two week high of $78.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $50.17 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03.

American International Group (NYSE:AIGGet Free Report) last released its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 earnings per share. Analysts forecast that American International Group will post 7.11 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.95%. American International Group’s dividend payout ratio is currently 28.86%.

Insider Buying and Selling at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Institutional Trading of American International Group

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new position in shares of American International Group during the first quarter worth approximately $29,000. OFI Invest Asset Management bought a new position in American International Group during the 3rd quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of American International Group during the third quarter worth $32,000. Neo Ivy Capital Management bought a new stake in shares of American International Group in the fourth quarter valued at about $40,000. Finally, Scarborough Advisors LLC acquired a new position in shares of American International Group in the fourth quarter valued at about $40,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Company Profile

(Get Free Report)

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.

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