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

Key Points

• Wells Fargo raised its price target on American International Group (AIG) from $85 to $89 while keeping an equal weight rating. The new target implies about 12.25% upside from the previous close.
• Other analysts were also mixed-to-positive on AIG, with UBS lifting its target to $98 and Mizuho raising its target to $89, while Morgan Stanley and JPMorgan trimmed their targets. Overall, MarketBeat reports a Moderate Buy consensus and an average price target of $88.44.
• AIG shares were down 0.4% at $79.29, but the company recently reported EPS of $2.11, beating expectations of $1.89. Institutional ownership remains high, with about 90.6% of shares held by hedge funds and other institutions.

American International Group (NYSE:AIG - Get Free Report) had its price objective upped by equities researchers at Wells Fargo & Company from $85.00 to $89.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 12.25% from the stock's previous close.

A number of other brokerages also recently issued reports on AIG. Weiss Ratings raised American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Morgan Stanley dropped their price objective on shares of American International Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. cut their target price on shares of American International Group from $97.00 to $86.00 and set a "neutral" rating for the company in a report on Monday, April 20th. UBS Group increased 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. Finally, Mizuho raised their price target on shares of American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, American International Group has an average rating of "Moderate Buy" and an average price target of $88.44.

American International Group Stock Down 0.4%

AIG traded down $0.33 during trading on Thursday, hitting $79.29. The stock had a trading volume of 935,536 shares, compared to its average volume of 4,523,839. The stock has a 50 day simple moving average of $76.01 and a two-hundred day simple moving average of $77.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a market capitalization of $42.04 billion, a PE ratio of 14.00, a PEG ratio of 0.74 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, research analysts predict that American International Group will post 7.98 earnings per share for the current year.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockland Trust Co. increased its stake in American International Group by 8.5% in the second quarter. Rockland Trust Co. now owns 36,761 shares of the insurance provider's stock valued at $2,740,000 after purchasing an additional 2,894 shares during the last quarter. Czech National Bank lifted its position in shares of American International Group by 3.3% during the 2nd quarter. Czech National Bank now owns 150,917 shares of the insurance provider's stock worth $11,248,000 after buying an additional 4,787 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of American International Group by 35.8% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 146,083 shares of the insurance provider's stock worth $10,888,000 after buying an additional 38,483 shares during the last quarter. GK Wealth Management LLC acquired a new position in shares of American International Group in the 2nd quarter valued at $239,000. Finally, GAMMA Investing LLC boosted its holdings in shares of American International Group by 6.7% in the 2nd quarter. GAMMA Investing LLC now owns 18,740 shares of the insurance provider's stock valued at $1,397,000 after buying an additional 1,184 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group News Summary

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

• Positive Sentiment: Cantor Fitzgerald upgraded AIG to overweight and raised its price target to $92, citing continued Q1 momentum. AIG raised to overweight at Cantor based on Q1 momentum continuing
• Positive Sentiment: UBS lifted its target on American International Group NYSE: AIG to $98 and maintained a buy rating, signaling further upside potential. UBS Group Issues Positive Forecast for American International Group NYSE: AIG Stock Price
• Positive Sentiment: Mizuho raised its price target on AIG to $89, reflecting continued confidence in the stock’s valuation. Can American International Group (AIG) Justify Its Price After A 92% Run?
• Neutral Sentiment: KBW slightly lowered its target to $95, but still kept an outperform rating, so the overall stance remains constructive. KBW price target update
• Neutral Sentiment: Zacks highlighted AIG’s earnings surprise history and dividend appeal, which supports the stock but does not change near-term fundamentals by itself. Why American International Group (AIG) is Poised to Beat Earnings Estimates Again
• Neutral Sentiment: AIG also announced a leadership change, naming Williams as head of global client, which is more of an internal management update than a major market-moving event. AIG Heralds Williams as Head of Global Client

About American International Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.