American International Group (NYSE:AIG) Given New $89.00 Price Target at Wells Fargo & Company

American International Group (NYSE:AIG) had its price objective increased by Wells Fargo & Company from $85.00 to $89.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Several other equities analysts also recently commented on the stock. Cantor Fitzgerald raised shares of American International Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $92.00 in a research note on Thursday. UBS Group upped their price target on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays increased their price target on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Morgan Stanley cut their price objective on American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Bank of America lowered their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.44.

American International Group Price Performance

Shares of AIG stock opened at $79.01 on Thursday. The business has a fifty day simple moving average of $76.11 and a 200 day simple moving average of $76.97. The company has a market cap of $41.89 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.73 and a beta of 0.53. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG) last posted its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, sell-side analysts forecast that American International Group will post 7.98 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. This is a boost from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio (DPR) is presently 35.27%.

Institutional Investors Weigh In On American International Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Modus Advisors LLC bought a new position in American International Group during the 4th quarter worth approximately $27,000. Navalign LLC bought a new stake in shares of American International Group in the 4th quarter valued at $29,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of American International Group during the fourth quarter worth $29,000. SHP Wealth Management bought a new position in American International Group during the fourth quarter worth $34,000. Finally, CENTRAL TRUST Co raised its stake in American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Key Stories Impacting American International Group

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: Cantor Fitzgerald upgraded AIG to overweight and lifted its target to $92, saying Q1 momentum appears to be continuing. AIG raised to overweight at Cantor based on Q1 momentum continuing
• Positive Sentiment: UBS raised its target to $98 and kept a buy rating, calling for further upside in AIG shares. American International Group had its price target raised by UBS Group AG
• Positive Sentiment: Wells Fargo and Mizuho also increased their price targets to $89, reinforcing the bullish sentiment around AIG. American International Group had its price target raised by Wells Fargo & Company and Mizuho
• Neutral Sentiment: Recent commentary highlighted that AIG has already had a large rally, prompting questions about whether the stock can justify its valuation after a 92% run. Can American International Group (AIG) Justify Its Price After A 92% Run?
• Neutral Sentiment: Zacks published optimistic notes on AIG’s earnings-surprise history and dividend appeal, which may support investor interest but do not represent a direct catalyst. Why American International Group (AIG) is Poised to Beat Earnings Estimates Again

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.