American International Group (NYSE:AIG) Given New $76.00 Price Target at Wells Fargo & Company

American International Group (NYSE:AIG) had its target price reduced by Wells Fargo & Company from $77.00 to $76.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

AIG has been the subject of a number of other reports. Citigroup reduced their price target on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Barclays started coverage on American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. Piper Sandler lowered their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.31.

American International Group Trading Up 2.2 %

NYSE:AIG opened at $77.02 on Wednesday. American International Group has a 1 year low of $62.52 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average price of $75.17 and a two-hundred day moving average price of $75.65. The stock has a market capitalization of $49.60 billion, a price-to-earnings ratio of -22.72, a PEG ratio of 5.21 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the firm posted $1.61 EPS. As a group, sell-side analysts anticipate that American International Group will post 4.99 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm 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 $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.08%. American International Group’s payout ratio is currently -47.20%.

Insiders Place Their Bets

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

Institutional Trading of American International Group

Several institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc acquired a new position in American International Group in the third quarter valued at $26,000. Fortitude Family Office LLC grew its holdings in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares during the period. Y.D. More Investments Ltd acquired a new stake in American International Group during the 2nd quarter worth approximately $27,000. Versant Capital Management Inc raised its holdings in American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after buying an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in American International Group during the third quarter valued at approximately $46,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.