Wells Fargo & Company Forecasts Strong Price Appreciation for American International Group (NYSE:AIG) Stock

American International Group (NYSE:AIGGet Free Report) had its target price lifted by investment analysts at Wells Fargo & Company from $85.00 to $87.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 11.16% from the company’s current price.

A number of other equities research analysts also recently weighed in on AIG. Bank of America lowered their target price on American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, January 16th. Jefferies Financial Group boosted their target price on shares of American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Piper Sandler cut their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday. HSBC lifted their price target on shares of American International Group from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Mizuho reduced their target price on American International Group from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $87.32.

Check Out Our Latest Research Report on American International Group

American International Group Stock Performance

Shares of American International Group stock opened at $78.26 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $42.23 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.59 and a beta of 0.61. The stock’s 50-day moving average is $78.89 and its 200-day moving average is $78.83. American International Group has a one year low of $71.25 and a one year high of $88.07.

American International Group (NYSE:AIGGet Free Report) last posted its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. American International Group had a return on equity of 9.78% 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 in the previous year, the firm earned $1.30 EPS. Equities analysts predict that American International Group will post 6.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently bought and sold shares of AIG. Capital Research Global Investors lifted its position in shares of American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the last quarter. Norges Bank purchased a new position in American International Group in the 2nd quarter worth about $787,724,000. Vanguard Group Inc. lifted its holdings in American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after buying an additional 7,117,583 shares in the last quarter. Franklin Resources Inc. boosted its position in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after buying an additional 4,210,363 shares during the period. Finally, Wellington Management Group LLP boosted its position in American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group News Summary

Here are the key news stories impacting American International Group this week:

American International Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for American International Group (NYSE:AIG)

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