American International Group’s (AIG) Buy Rating Reaffirmed at Wells Fargo & Co

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American International Group (NYSE:AIG)‘s stock had its “buy” rating reaffirmed by Wells Fargo & Co in a research note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $64.00 price objective on the insurance provider’s stock. Wells Fargo & Co‘s target price points to a potential upside of 10.55% from the company’s previous close.

The analysts wrote, “We show that the majority of the six companies we tracked have outperformed with expense programs underway. PRU is one of the underperformers in our analysis, however it is really too early into their program for it to have an impact on the bottom line. The LNC savings program came when the stock was more impacted by the movement in the 10-year treasury rate.””

Other equities analysts also recently issued research reports about the stock. Barclays raised their target price on shares of American International Group from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Deutsche Bank downgraded shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 target price on the stock. in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Royal Bank of Canada raised their target price on shares of American International Group to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. ValuEngine downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of American International Group from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Sunday, July 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $57.18.

NYSE AIG traded up $0.24 during mid-day trading on Thursday, reaching $57.89. 4,607,032 shares of the stock were exchanged, compared to its average volume of 4,761,570. American International Group has a 1-year low of $36.16 and a 1-year high of $58.66. The business’s fifty day simple moving average is $54.57 and its 200 day simple moving average is $50.93. The stock has a market capitalization of $50.69 billion, a PE ratio of 49.48, a PEG ratio of 1.10 and a beta of 1.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.28 and a current ratio of 0.28.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.26. American International Group had a negative net margin of 0.24% and a positive return on equity of 2.97%. The firm had revenue of $12.16 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the business earned $1.05 earnings per share. On average, analysts anticipate that American International Group will post 5.13 EPS for the current year.

In related news, CEO Seraina Macia sold 7,550 shares of American International Group stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $56.00, for a total transaction of $422,800.00. Following the sale, the chief executive officer now owns 11,055 shares of the company’s stock, valued at approximately $619,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AIG. Cornerstone Advisors Inc. increased its stake in American International Group by 16.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,083 shares of the insurance provider’s stock worth $90,000 after buying an additional 295 shares during the period. Stratos Wealth Partners LTD. increased its stake in American International Group by 9.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 5,813 shares of the insurance provider’s stock worth $250,000 after buying an additional 495 shares during the period. Greenleaf Trust purchased a new stake in American International Group during the 1st quarter worth $214,000. National Asset Management Inc. increased its stake in American International Group by 12.2% during the 1st quarter. National Asset Management Inc. now owns 7,369 shares of the insurance provider’s stock worth $319,000 after buying an additional 803 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in American International Group by 3.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,428 shares of the insurance provider’s stock worth $664,000 after buying an additional 582 shares during the period. 90.97% of the stock is currently owned by hedge funds and other institutional investors.

About American International Group

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. 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, crop, and marine insurance.

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