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.
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