American International Group (NYSE:AIG) Stock Gets Price Target Reduction from Wells Fargo & Company

American International Group (NYSE:AIG) had its price target reduced by Wells Fargo & Company from $85.00 to $83.00 in a research note published on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Several other brokerages also recently commented on AIG. Mizuho cut their target price on American International Group from $85.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. HSBC decreased their price target on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Argus reissued a “buy” rating and issued a $90.00 price target on shares of American International Group in a report on Wednesday, September 2nd. The Goldman Sachs Group raised their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.68.

American International Group Price Performance

AIG opened at $77.46 on Monday. The company has a market capitalization of $40.50 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.81 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $76.06 and a 200-day moving average price of $76.53. 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 issued its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the previous year, the firm posted $1.81 EPS. Equities analysts expect that American International Group will post 8.07 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.

Insider Buying and Selling at American International Group

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company’s stock, valued at $42,334,144.56. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mather Group LLC. boosted its stake in American International Group by 4.2% in the 3rd quarter. Mather Group LLC. now owns 12,124 shares of the insurance provider’s stock worth $902,000 after purchasing an additional 492 shares in the last quarter. Fortitude Family Office LLC increased its stake in American International Group by 89.5% during the 3rd quarter. Fortitude Family Office LLC now owns 1,266 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 598 shares in the last quarter. Consilium Wealth Advisory LLC increased its stake in American International Group by 2.9% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 12,325 shares of the insurance provider’s stock valued at $917,000 after purchasing an additional 348 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in American International Group by 46.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,052 shares of the insurance provider’s stock valued at $450,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Krilogy Financial LLC raised its holdings in American International Group by 55.5% in the third quarter. Krilogy Financial LLC now owns 9,496 shares of the insurance provider’s stock worth $738,000 after buying an additional 3,391 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.