Wells Fargo & Company Increases American International Group (NYSE:AIG) Price Target to $77.00

American International Group (NYSE:AIG) had its price objective lifted by Wells Fargo & Company from $76.00 to $77.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI cut their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Bank of America raised their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.13.

American International Group Stock Performance

Shares of American International Group stock opened at $72.69 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group has a 52 week low of $66.06 and a 52 week high of $80.83. The firm’s 50 day moving average is $74.02 and its two-hundred day moving average is $74.68. The firm has a market capitalization of $45.34 billion, a P/E ratio of -21.44, a P/E/G ratio of 7.30 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the business posted $1.61 EPS. Research analysts forecast that American International Group will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. American International Group’s payout ratio is currently -47.20%.

Institutional Trading of American International Group

Several hedge funds and other institutional investors have recently made changes to their positions in AIG. Wellington Management Group LLP increased its holdings in American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after buying an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after acquiring an additional 722,237 shares during the period. Franklin Resources Inc. increased its stake in American International Group by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock valued at $713,272,000 after purchasing an additional 457,821 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in American International Group by 0.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock worth $543,091,000 after purchasing an additional 59,180 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in American International Group by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock worth $477,802,000 after purchasing an additional 269,188 shares in the last quarter. Institutional investors and hedge funds 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.