Wells Fargo & Company Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price target raised by equities research analysts at Wells Fargo & Company from $76.00 to $77.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.01% from the stock’s current price.

A number of other research firms have also weighed in on AIG. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Bank of America raised their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, American International Group has an average rating of “Hold” and a consensus price target of $84.13.

American International Group Trading Up 0.6 %

Shares of NYSE:AIG traded up $0.45 on Tuesday, reaching $71.29. 115,435 shares of the company traded hands, compared to its average volume of 3,831,205. The business’s 50-day simple moving average is $74.07 and its 200 day simple moving average is $74.69. American International Group has a 52 week low of $66.06 and a 52 week high of $80.83. The stock has a market capitalization of $44.47 billion, a P/E ratio of -21.03, a price-to-earnings-growth ratio of 7.30 and a beta of 1.06. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period in the prior year, the business posted $1.61 earnings per share. As a group, equities analysts anticipate that American International Group will post 5.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AIG. Wellington Management Group LLP boosted its holdings in American International Group by 32.4% in the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after buying an additional 6,119,996 shares during the period. Prana Capital Management LP boosted its holdings in American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after buying an additional 1,391,859 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after buying an additional 722,237 shares during the period. Bank of Montreal Can boosted its holdings in American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after buying an additional 597,765 shares during the period. Finally, Barclays PLC boosted its holdings in American International Group by 24.7% in the 3rd quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock worth $201,286,000 after buying an additional 544,110 shares during the period. 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.