Wells Fargo & Co Analysts Give American International Group, Inc. (AIG) a $75.00 Price Target

Wells Fargo & Co set a $75.00 price objective on American International Group, Inc. (NYSE:AIG) in a report released on Tuesday morning. The brokerage currently has a buy rating on the insurance provider’s stock.

A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded American International Group from a hold rating to a sell rating in a research note on Tuesday. Barclays PLC cut their price target on American International Group from $74.00 to $71.00 and set an overweight rating for the company in a research note on Monday, October 16th. Morgan Stanley restated a buy rating on shares of American International Group in a research note on Tuesday, October 10th. ValuEngine downgraded American International Group from a buy rating to a hold rating in a research note on Wednesday, October 11th. Finally, Bank of America Corporation cut their price target on American International Group from $71.00 to $69.00 and set a buy rating for the company in a research note on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $68.18.

Shares of American International Group (NYSE AIG) opened at 64.87 on Tuesday. The firm’s 50-day moving average is $61.33 and its 200 day moving average is $62.30. The stock’s market capitalization is $58.60 billion. American International Group has a 12-month low of $57.35 and a 12-month high of $67.47.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.33. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period in the previous year, the company posted $0.98 EPS. On average, equities research analysts forecast that American International Group will post $3.38 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.32 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. American International Group’s dividend payout ratio is presently -711.07%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Capital Management LLC lifted its holdings in American International Group by 4.0% in the 2nd quarter. Northern Capital Management LLC now owns 46,115 shares of the insurance provider’s stock worth $2,883,000 after purchasing an additional 1,760 shares in the last quarter. Girard Partners LTD. purchased a new position in American International Group in the 2nd quarter worth approximately $215,000. Oppenheimer & Co. Inc. lifted its holdings in American International Group by 9.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,877 shares of the insurance provider’s stock worth $5,557,000 after purchasing an additional 7,963 shares in the last quarter. AXA lifted its holdings in American International Group by 113.5% in the 2nd quarter. AXA now owns 411,178 shares of the insurance provider’s stock worth $25,707,000 after purchasing an additional 218,583 shares in the last quarter. Finally, Allen Investment Management LLC lifted its holdings in American International Group by 126.4% in the 2nd quarter. Allen Investment Management LLC now owns 42,000 shares of the insurance provider’s stock worth $2,626,000 after purchasing an additional 23,445 shares in the last quarter. 83.96% of the stock is currently owned by institutional investors.

About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

Analyst Recommendations for American International Group (NYSE:AIG)

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