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

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

Other research analysts have also issued research reports about the company. TD Cowen started coverage on American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price target on the stock. HSBC started coverage on American International Group in a research report on Thursday, December 28th. They set a “buy” rating and a $86.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price target on shares of American International Group in a research report on Monday, April 1st. Keefe, Bruyette & Woods lifted their price target on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, BMO Capital Markets lowered their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Nine investment 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, the stock has a consensus rating of “Hold” and an average target price of $77.35.

American International Group Price Performance

Shares of NYSE AIG opened at $73.67 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group has a fifty-two week low of $48.95 and a fifty-two week high of $78.95. The firm has a market capitalization of $50.17 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.03. The stock’s 50-day simple moving average is $73.77 and its 200-day simple moving average is $67.99.

American International Group (NYSE:AIG) last released its quarterly earnings results 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 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%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. As a group, equities research analysts forecast that American International Group will post 7.11 EPS for the current fiscal year.

Insider Activity at American International Group

In related news, 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 in the company, valued at $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other American International Group news, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Institutional Trading of American International Group

Several large investors have recently bought and sold shares of the company. Wallace Advisory Group LLC grew its holdings in American International Group by 6.9% in the first quarter. Wallace Advisory Group LLC now owns 5,294 shares of the insurance provider’s stock valued at $414,000 after purchasing an additional 343 shares during the last quarter. Rockland Trust Co. grew its holdings in American International Group by 1.6% in the first quarter. Rockland Trust Co. now owns 105,501 shares of the insurance provider’s stock valued at $8,247,000 after purchasing an additional 1,688 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in American International Group by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 59,701 shares of the insurance provider’s stock valued at $4,666,000 after purchasing an additional 333 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in American International Group in the first quarter valued at $12,248,000. Finally, Aprio Wealth Management LLC acquired a new stake in American International Group in the first quarter valued at $216,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

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.