Wells Fargo & Company set a $75.00 price objective on American International Group, Inc. (NYSE:AIG) in a research note issued to investors on Tuesday morning. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on AIG. Zacks Investment Research upgraded shares of American International Group from a hold rating to a buy rating and set a $70.00 price target on the stock in a research note on Wednesday, July 5th. BidaskClub cut shares of American International Group from a hold rating to a sell rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reiterated a buy rating and set a $75.00 price target on shares of American International Group in a research note on Thursday, August 3rd. Atlantic Securities cut shares of American International Group from an overweight rating to a neutral rating and set a $70.00 price target on the stock. in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG restated a sell rating and set a $60.00 price objective (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $68.18.

Shares of American International Group (NYSE AIG) opened at 65.07 on Tuesday. American International Group has a one year low of $57.35 and a one year high of $67.47. The firm’s 50-day moving average is $61.21 and its 200-day moving average is $62.27. The company’s market cap is $58.78 billion.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.33. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same quarter last year, the company posted $0.98 EPS. On average, equities analysts anticipate that American International Group will post $3.38 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. American International Group’s dividend payout ratio is currently -711.07%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Capital Management LLC increased its holdings in American International Group by 4.0% in the 2nd quarter. Northern Capital Management LLC now owns 46,115 shares of the insurance provider’s stock valued at $2,883,000 after acquiring an additional 1,760 shares during the last quarter. Girard Partners LTD. bought a new stake in American International Group in the 2nd quarter valued at $215,000. Oppenheimer & Co. Inc. increased its holdings in American International Group by 9.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,877 shares of the insurance provider’s stock valued at $5,557,000 after acquiring an additional 7,963 shares during the last quarter. AXA increased its holdings in American International Group by 113.5% in the 2nd quarter. AXA now owns 411,178 shares of the insurance provider’s stock valued at $25,707,000 after acquiring an additional 218,583 shares during the last quarter. Finally, Allen Investment Management LLC increased its holdings in American International Group by 126.4% in the 2nd quarter. Allen Investment Management LLC now owns 42,000 shares of the insurance provider’s stock valued at $2,626,000 after acquiring an additional 23,445 shares during the last quarter. Institutional investors own 83.96% of the company’s stock.

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.

Analyst Recommendations for American International Group (NYSE:AIG)

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