Wells Fargo & Co Lowers American International Group (AIG) Price Target to $54.00

American International Group (NYSE:AIG) had its price objective lowered by equities research analysts at Wells Fargo & Co from $57.00 to $54.00 in a report released on Wednesday. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Wells Fargo & Co’s target price indicates a potential upside of 36.88% from the stock’s current price.

AIG has been the subject of a number of other reports. Zacks Investment Research cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 25th. Barclays dropped their price target on shares of American International Group from $71.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, November 12th. Argus dropped their price target on shares of American International Group from $63.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, August 10th. JPMorgan Chase & Co. set a $55.00 price objective on shares of American International Group and gave the company a “hold” rating in a research note on Thursday, November 1st. Finally, Deutsche Bank raised shares of American International Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. American International Group presently has a consensus rating of “Buy” and a consensus target price of $59.41.

Shares of NYSE AIG traded down $1.32 during mid-day trading on Wednesday, reaching $39.45. The company’s stock had a trading volume of 2,856,909 shares, compared to its average volume of 7,481,893. The stock has a market capitalization of $36.07 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.58. American International Group has a 1-year low of $39.29 and a 1-year high of $65.05.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, October 31st. The insurance provider reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.40). American International Group had a negative net margin of 12.73% and a positive return on equity of 3.44%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.44 billion. During the same quarter last year, the company earned ($1.22) earnings per share. As a group, equities research analysts expect that American International Group will post 2.6 EPS for the current year.

A number of institutional investors have recently modified their holdings of AIG. ARGA Investment Management LP lifted its position in shares of American International Group by 13.9% during the 3rd quarter. ARGA Investment Management LP now owns 93,099 shares of the insurance provider’s stock worth $4,957,000 after buying an additional 11,350 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of American International Group by 16.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 57,732 shares of the insurance provider’s stock valued at $3,060,000 after acquiring an additional 8,141 shares during the period. Canton Hathaway LLC acquired a new position in shares of American International Group in the 3rd quarter valued at $163,000. Jupiter Asset Management Ltd. increased its holdings in shares of American International Group by 1.7% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 254,025 shares of the insurance provider’s stock valued at $13,527,000 after acquiring an additional 4,346 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of American International Group by 6.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 310,343 shares of the insurance provider’s stock valued at $16,524,000 after acquiring an additional 19,100 shares during the period. Institutional investors own 90.18% of the company’s stock.

American International Group Company Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.

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