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

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

A number of other research firms also recently issued reports on AIG. Royal Bank of Canada increased their price objective on American International Group from $76.00 to $80.00 and gave the stock an outperform rating in a report on Thursday, February 15th. HSBC initiated coverage on American International Group in a report on Thursday, December 28th. They set a buy rating and a $86.00 price objective for the company. UBS Group increased their price objective on American International Group from $83.00 to $84.00 and gave the stock a buy rating in a report on Thursday, February 22nd. TD Cowen initiated coverage on American International Group in a report on Wednesday, January 10th. They set a market perform rating and a $78.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on American International Group from $82.00 to $86.00 and gave the stock an outperform rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $77.35.

Read Our Latest Stock Analysis on AIG

American International Group Trading Down 1.6 %

NYSE AIG opened at $74.15 on Thursday. The firm has a market cap of $50.49 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.10 and a beta of 1.03. 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’s 50-day moving average is $73.69 and its 200-day moving average is $67.91. American International Group has a one year low of $48.95 and a one year high of $78.95.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. American International Group’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 earnings per share. Sell-side analysts anticipate that American International Group will post 7.1 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. American International Group’s payout ratio is 28.86%.

Insider Activity

In other news, CEO Peter Zaffino sold 333,000 shares of the firm’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 completion of the sale, 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 SEC, which is accessible through this link. In other news, Director John C. Inglis purchased 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of American International Group 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 sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Institutional Trading of American International Group

Several hedge funds have recently added to or reduced their stakes in AIG. Fairfield Bush & CO. acquired a new stake in American International Group during the 1st quarter worth approximately $84,000. Cetera Advisor Networks LLC raised its holdings in American International Group by 11.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock valued at $347,000 after acquiring an additional 578 shares in the last quarter. Blair William & Co. IL raised its holdings in American International Group by 1.2% in the 1st quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock valued at $6,331,000 after acquiring an additional 1,207 shares in the last quarter. Cetera Investment Advisers raised its holdings in American International Group by 20.1% in the 1st quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock valued at $1,283,000 after acquiring an additional 3,428 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in American International Group by 43.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider’s stock valued at $334,000 after acquiring an additional 1,608 shares in the last quarter. 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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Analyst Recommendations for American International Group (NYSE:AIG)

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