American International Group (NYSE:AIG) Given New $76.00 Price Target at Wells Fargo & Company

American International Group (NYSE:AIG - Free Report) had its price target lowered by Wells Fargo & Company from $77.00 to $76.00 in a research note published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider's stock.

Several other analysts have also recently issued reports on the stock. UBS Group upped their price target on shares of American International Group from $84.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Barclays initiated coverage on American International Group in a research note on Wednesday, September 4th. They issued an "overweight" rating and a $90.00 price target for the company. Evercore ISI cut their price objective on American International Group from $79.00 to $78.00 and set an "in-line" rating on the stock in a research note on Wednesday, October 9th. Piper Sandler lowered their price target on American International Group from $89.00 to $86.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $84.31.

American International Group Stock Up 2.2 %

AIG traded up $1.63 during trading hours on Wednesday, reaching $77.02. 7,130,155 shares of the stock traded hands, compared to its average volume of 4,105,745. American International Group has a fifty-two week low of $62.52 and a fifty-two week high of $80.83. The company has a market cap of $49.60 billion, a price-to-earnings ratio of -22.72, a PEG ratio of 5.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The firm's fifty day simple moving average is $75.17 and its two-hundred day simple moving average is $75.65.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business had revenue of $6.75 billion for the quarter, compared to analysts' expectations of $6.62 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. As a group, analysts forecast that American International Group will post 4.99 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Monday, December 16th. American International Group's dividend payout ratio (DPR) is presently -47.20%.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company's stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AIG. Empirical Finance LLC lifted its position in American International Group by 3.2% in the 1st quarter. Empirical Finance LLC now owns 27,439 shares of the insurance provider's stock worth $2,145,000 after buying an additional 847 shares in the last quarter. AIA Group Ltd purchased a new stake in shares of American International Group during the 1st quarter worth about $301,000. Empowered Funds LLC lifted its holdings in shares of American International Group by 20.9% during the 1st quarter. Empowered Funds LLC now owns 10,871 shares of the insurance provider's stock valued at $850,000 after buying an additional 1,877 shares during the last quarter. Hilltop National Bank acquired a new position in American International Group in the first quarter worth approximately $307,000. Finally, Meixler Investment Management Ltd. acquired a new position in American International Group in the first quarter worth approximately $640,000. 90.60% of the stock is owned by institutional investors and hedge funds.

About American International Group

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.