Wells Fargo & Company Cuts American International Group (NYSE:AIG) Price Target to $76.00

American International Group (NYSE:AIG) had its price objective trimmed by Wells Fargo & Company from $77.00 to $76.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the company. Piper Sandler decreased their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. UBS Group raised their target price on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, TD Cowen reduced their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Price Performance

Shares of NYSE:AIG opened at $75.60 on Wednesday. The firm has a 50 day moving average of $75.15 and a 200-day moving average of $75.66. American International Group has a 12 month low of $62.75 and a 12 month high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $48.68 billion, a PE ratio of -22.30, a PEG ratio of 5.26 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. During the same period in the previous year, the business earned $1.61 earnings per share. On average, equities research analysts predict that American International Group will post 4.99 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

Hedge funds have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. boosted its stake in American International Group by 5.6% during the third 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of American International Group by 4.4% during the 2nd 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. Clearbridge Investments LLC grew its stake in shares of American International Group by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after buying an additional 31,340 shares during the period. Massachusetts Financial Services Co. MA increased its position in American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock valued at $233,743,000 after buying an additional 198,889 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in American International Group by 13.3% in the 2nd quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after buying an additional 258,700 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

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.