Wells Fargo & Company Cuts American International Group (NYSE:AIG) Price Target to $86.00

American International Group (NYSE:AIG) had its price objective decreased by Wells Fargo & Company from $87.00 to $86.00 in a research note released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

AIG has been the topic of several other reports. HSBC reduced their price target on American International Group from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Barclays cut their price objective on American International Group from $79.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 7th. UBS Group cut their price objective on American International Group from $94.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Mizuho lifted their price objective on American International Group from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.59.

American International Group Price Performance

AIG opened at $76.92 on Thursday. The stock’s 50 day simple moving average is $77.05 and its 200 day simple moving average is $78.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group has a 1 year low of $71.25 and a 1 year high of $87.46. The firm has a market cap of $41.30 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.59 and a beta of 0.59.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period last year, the company earned $1.30 EPS. As a group, analysts predict that American International Group will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, March 16th. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in shares of American International Group by 33.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 55,212 shares of the insurance provider’s stock valued at $4,723,000 after purchasing an additional 13,844 shares during the period. World Investment Advisors lifted its stake in shares of American International Group by 5.0% in the 4th quarter. World Investment Advisors now owns 10,755 shares of the insurance provider’s stock valued at $920,000 after purchasing an additional 512 shares during the period. Corient Private Wealth LLC lifted its stake in shares of American International Group by 17.9% in the 4th quarter. Corient Private Wealth LLC now owns 271,928 shares of the insurance provider’s stock valued at $23,264,000 after purchasing an additional 41,310 shares during the period. Pure Financial Advisors LLC purchased a new position in shares of American International Group in the 4th quarter valued at approximately $257,000. Finally, Rehmann Capital Advisory Group purchased a new position in shares of American International Group in the 4th quarter valued at approximately $202,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.