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

American International Group (NYSE:AIG) had its price target hoisted by equities researchers at Wells Fargo & Company from $83.00 to $85.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 15.81% from the company’s previous close.

Several other analysts have also issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $91.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Jefferies Financial Group upped their price objective on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Barclays lowered their price objective on shares of American International Group from $88.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Mizuho started coverage on American International Group in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $84.00 target price on the stock. Finally, UBS Group raised their price target on American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, American International Group has a consensus rating of “Hold” and a consensus target price of $89.28.

American International Group Trading Down 0.9%

AIG traded down $0.69 during trading hours on Tuesday, reaching $73.40. The company’s stock had a trading volume of 357,669 shares, compared to its average volume of 6,515,251. The stock has a market cap of $39.60 billion, a PE ratio of 13.35, a P/E/G ratio of 0.72 and a beta of 0.62. American International Group has a fifty-two week low of $70.64 and a fifty-two week high of $88.07. 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 business’s 50-day moving average is $79.99 and its 200-day moving average is $80.06.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. As a group, equities research analysts predict that American International Group will post 6.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American International Group

Large investors have recently bought and sold shares of the stock. Westfuller Advisors LLC purchased a new position in shares of American International Group in the 3rd quarter valued at about $26,000. Atlantic Union Bankshares Corp raised its holdings in American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 355 shares in the last quarter. GFG Capital LLC purchased a new position in American International Group in the second quarter worth approximately $33,000. Eastern Bank lifted its stake in American International Group by 2,473.3% in the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 371 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in American International Group during the 2nd quarter worth approximately $32,000. 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.