American International Group (NYSE:AIG) Price Target Lowered to $76.00 at Wells Fargo & Company

American International Group (NYSE:AIG) had its price objective cut by Wells Fargo & Company from $77.00 to $76.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley decreased their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group lifted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI dropped their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Finally, Piper Sandler reduced their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.31.

American International Group Trading Down 1.3 %

NYSE AIG opened at $75.58 on Wednesday. The business’s fifty day moving average is $75.15 and its 200-day moving average is $75.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $48.67 billion, a price-to-earnings ratio of -22.29, a PEG ratio of 7.65 and a beta of 1.05. American International Group has a one year low of $62.75 and a one year high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the company earned $1.61 earnings per share. Equities research analysts predict that American International Group will post 5.11 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. American International Group’s payout ratio is currently -47.20%.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On American International Group

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management grew its position in American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 9,805 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of American International Group by 64.3% during the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after acquiring an additional 11,149 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of American International Group by 19.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock worth $12,206,000 after acquiring an additional 24,906 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of American International Group by 8.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after purchasing an additional 10,581 shares in the last quarter. Hedge funds and other 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.