American International Group (NYSE:AIG) had its price target boosted by investment analysts at Wells Fargo & Co from $57.00 to $62.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Wells Fargo & Co‘s price target points to a potential upside of 10.18% from the stock’s current price.
Several other equities research analysts have also commented on the stock. Morgan Stanley boosted their price objective on shares of Intact Financial from C$125.00 to C$128.00 in a research note on Thursday, May 30th. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Deutsche Bank lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 price objective on the stock. in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Royal Bank of Canada lowered shares of Zayo Group from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $33.00 to $35.00 in a research note on Wednesday, May 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Sunday, July 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.86.
NYSE:AIG opened at $56.27 on Thursday. American International Group has a one year low of $36.16 and a one year high of $56.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.27 and a quick ratio of 0.27. The business’s 50-day simple moving average is $53.35. The company has a market capitalization of $48.25 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 1.02 and a beta of 1.19.
In other news, Director Therese M. Vaughan bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $51.71 per share, with a total value of $51,710.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $51,710. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Northstar Group Inc. purchased a new position in shares of American International Group during the second quarter valued at approximately $413,000. Xact Kapitalforvaltning AB raised its holdings in shares of American International Group by 6.1% during the second quarter. Xact Kapitalforvaltning AB now owns 170,448 shares of the insurance provider’s stock valued at $9,081,000 after purchasing an additional 9,779 shares during the last quarter. Exane Derivatives purchased a new stake in American International Group during the second quarter valued at approximately $58,000. AMF Pensionsforsakring AB purchased a new stake in American International Group during the second quarter valued at approximately $33,750,000. Finally, PFS Investments Inc. purchased a new stake in American International Group during the second quarter valued at approximately $394,000. 90.05% 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 in North America and internationally. 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, crop, and marine insurance.
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