Wells Fargo & Company Cuts American International Group (NYSE:AIG) Price Target to $81.00

American International Group (NYSE:AIG) had its price target reduced by Wells Fargo & Company from $82.00 to $81.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Several other research analysts have also recently commented on AIG. Evercore ISI raised their target price on shares of American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. Barclays upped their price target on shares of American International Group from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Morgan Stanley increased their price target on American International Group from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, April 4th. Finally, Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.65.

American International Group Trading Up 0.8 %

Shares of NYSE:AIG opened at $82.03 on Thursday. American International Group has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $48.85 billion, a P/E ratio of -39.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The company has a 50-day simple moving average of $80.41 and a 200 day simple moving average of $76.67.

American International Group (NYSE:AIG) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Sell-side analysts forecast that American International Group will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.40 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.95%. American International Group’s payout ratio is -76.92%.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AIG. Snowden Capital Advisors LLC boosted its position in shares of American International Group by 1.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider’s stock worth $769,000 after purchasing an additional 146 shares in the last quarter. Catalina Capital Group LLC grew its stake in American International Group by 5.1% in the fourth quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock valued at $222,000 after acquiring an additional 148 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of American International Group by 1.8% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider’s stock valued at $641,000 after acquiring an additional 152 shares in the last quarter. Pitcairn Co. grew its position in American International Group by 2.2% in the 4th quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock valued at $536,000 after purchasing an additional 158 shares during the period. Finally, Integrated Advisors Network LLC increased its stake in American International Group by 1.0% during the 4th quarter. Integrated Advisors Network LLC now owns 16,316 shares of the insurance provider’s stock valued at $1,188,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds 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.