American International Group (AIG) PT Set at $62.00 by Wells Fargo & Co

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American International Group (NYSE:AIG) has been given a $62.00 target price by equities research analysts at Wells Fargo & Co in a report released on Thursday. The firm presently has a “buy” rating on the insurance provider’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 31.36% from the stock’s previous close.

A number of other analysts also recently commented on AIG. ValuEngine upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research upgraded American International Group from a “strong sell” rating to a “hold” rating and set a $60.00 price objective for the company in a research report on Wednesday, July 4th. JPMorgan Chase & Co. set a $63.00 price objective on American International Group and gave the stock a “hold” rating in a research report on Sunday, August 5th. Argus reduced their price objective on American International Group from $63.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Finally, Morgan Stanley set a $65.00 target price on American International Group and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. American International Group presently has a consensus rating of “Buy” and an average price target of $63.33.

Shares of AIG stock opened at $47.20 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.55. American International Group has a 12 month low of $46.80 and a 12 month high of $65.55. The company has a market capitalization of $44.08 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.01 and a beta of 1.27.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.16). American International Group had a positive return on equity of 2.03% and a negative net margin of 13.67%. The firm had revenue of $11.47 billion during the quarter, compared to the consensus estimate of $11.71 billion. During the same quarter in the prior year, the business posted $1.19 EPS. On average, equities research analysts forecast that American International Group will post 4.46 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in American International Group by 4,404.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,892 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 1,850 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in American International Group during the 2nd quarter valued at $115,000. Kaizen Advisory LLC increased its holdings in American International Group by 152.1% during the 2nd quarter. Kaizen Advisory LLC now owns 2,196 shares of the insurance provider’s stock valued at $116,000 after purchasing an additional 1,325 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in American International Group by 3,312.4% during the 2nd quarter. Integrated Investment Consultants LLC now owns 3,037 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 2,948 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new stake in American International Group during the 3rd quarter valued at $163,000. 89.40% of the stock is owned by institutional investors and hedge funds.

About American International Group

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.

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Analyst Recommendations for American International Group (NYSE:AIG)

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