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

American International Group (NYSE:AIG) had its price target lifted by investment analysts at Wells Fargo & Company from $74.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.59% from the stock’s current price.

A number of other analysts have also issued reports on AIG. HSBC began coverage on shares of American International Group in a research note on Thursday, December 28th. They set a “buy” rating and a $86.00 target price for the company. TD Cowen began coverage on shares of American International Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on shares of American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets lowered their target price on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and an average target price of $77.35.

American International Group Stock Down 0.7 %

NYSE AIG opened at $73.67 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $73.77 and a two-hundred day moving average of $67.99. The firm has a market capitalization of $50.17 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.06 and a beta of 1.03. American International Group has a 52 week low of $48.95 and a 52 week high of $78.95.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. American International Group’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. On average, analysts predict that American International Group will post 7.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other American International Group news, Director John C. Inglis purchased 659 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated 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 owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American International Group

A number of large investors have recently modified their holdings of the business. Capital Research Global Investors grew its stake in shares of American International Group by 0.4% during the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after acquiring an additional 176,286 shares during the last quarter. Invesco Ltd. boosted its position in American International Group by 3.0% in the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after buying an additional 503,547 shares during the last quarter. Geode Capital Management LLC boosted its position in American International Group by 1.4% in the first quarter. Geode Capital Management LLC now owns 13,407,381 shares of the insurance provider’s stock valued at $673,990,000 after buying an additional 180,340 shares during the last quarter. FMR LLC boosted its position in American International Group by 5.0% in the third quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after buying an additional 604,901 shares during the last quarter. Finally, Norges Bank purchased a new stake in American International Group in the fourth quarter valued at approximately $736,063,000. Hedge funds and other 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.