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

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

AIG has been the topic of several other research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research note on Wednesday, November 6th. Bank of America upped their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. The Goldman Sachs Group restated a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets downgraded 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 research report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.13.

American International Group Stock Performance

Shares of AIG stock traded up $0.45 during trading on Tuesday, hitting $71.29. The company’s stock had a trading volume of 115,435 shares, compared to its average volume of 3,831,205. American International Group has a 52 week low of $66.06 and a 52 week high of $80.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $74.07 and a 200-day moving average of $74.69. The company has a market cap of $44.47 billion, a PE ratio of -21.03, a P/E/G ratio of 7.30 and a beta of 1.06.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AIG. Wellington Management Group LLP increased its stake in American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares during the last quarter. Prana Capital Management LP increased its stake in American International Group by 280.5% in the third quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after acquiring an additional 1,391,859 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of American International Group by 5.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after buying an additional 722,237 shares during the last quarter. Bank of Montreal Can grew its stake in shares of American International Group by 83.6% during the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after buying an additional 597,765 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of American International Group by 24.7% during the third quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock valued at $201,286,000 after buying an additional 544,110 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

About American International Group

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.