American International Group, Inc. (NYSE:AIG) Given “Buy” Rating at Wells Fargo & Company
American International Group, Inc. (NYSE:AIG)‘s stock had its “buy” rating reissued by analysts at Wells Fargo & Company in a report released on Wednesday, July 5th.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, July 5th. Morgan Stanley raised American International Group from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $62.87 to $61.82 in a research report on Tuesday, May 16th. TheStreet upgraded American International Group from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 target price on shares of American International Group in a research note on Monday, April 24th. Finally, Credit Suisse Group set a $72.00 target price on American International Group and gave the company a “buy” rating in a research note on Saturday, April 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.22.
American International Group (AIG) traded down 1.48% during mid-day trading on Wednesday, hitting $65.08. 5,074,107 shares of the stock were exchanged. The stock has a 50 day moving average of $63.89 and a 200-day moving average of $63.11. The stock has a market cap of $60.25 billion, a price-to-earnings ratio of 132.28 and a beta of 1.14. American International Group has a 52-week low of $56.80 and a 52-week high of $67.47.
American International Group (NYSE:AIG) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.33. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $12.61 billion. American International Group had a positive return on equity of 5.95% and a negative net margin of 0.53%. During the same quarter in the prior year, the company earned $0.98 EPS. Equities analysts predict that American International Group will post $5.06 EPS for the current fiscal year.
American International Group declared that its board has approved a stock buyback plan on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: “American International Group, Inc. (NYSE:AIG) Given “Buy” Rating at Wells Fargo & Company” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.thecerbatgem.com/2017/08/04/american-international-groups-nyseaig-buy-rating-reiterated-at-wells-fargo-company-updated-updated-updated.html.
In other American International Group news, CEO Brian Duperreault acquired 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average cost of $61.48 per share, with a total value of $4,918,400.00. Following the acquisition, the chief executive officer now directly owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of AIG. Israel Discount Bank of New York purchased a new position in shares of American International Group during the first quarter worth about $145,000. Israel Discount Bank of New York GFN purchased a new position in shares of American International Group during the fourth quarter worth about $148,000. Chicago Partners Investment Group LLC raised its position in shares of American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock worth $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. raised its position in shares of American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,711 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new position in shares of American International Group during the first quarter worth about $184,000. 86.02% of the stock is owned by hedge funds and other institutional investors.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
Receive News & Stock Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related stocks with our FREE daily email newsletter.