American International Group (NYSE:AIG) PT Raised to $82.00

American International Group (NYSE:AIG - Get Free Report) had its price target upped by analysts at Wells Fargo & Company from $80.00 to $82.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price objective would suggest a potential upside of 2.36% from the company's current price.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets cut their price objective on American International Group from $83.00 to $81.00 and set an "outperform" rating for the company in a research report on Thursday, February 15th. Royal Bank of Canada boosted their price objective on American International Group from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. Citigroup boosted their price objective on American International Group from $79.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price objective on American International Group from $73.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods upped their price target on American International Group from $82.00 to $86.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, American International Group currently has an average rating of "Moderate Buy" and an average target price of $80.56.

American International Group Stock Up 0.3 %

NYSE AIG traded up $0.23 on Friday, reaching $80.11. The stock had a trading volume of 4,033,990 shares, compared to its average volume of 3,986,601. The company has a market capitalization of $53.17 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.11 and a beta of 1.02. The business has a 50 day moving average price of $76.02 and a 200 day moving average price of $69.98. American International Group has a 1 year low of $51.86 and a 1 year high of $80.83. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same quarter in the prior year, the company posted $1.63 EPS. On average, analysts forecast that American International Group will post 7.05 EPS for the current fiscal year.

American International Group announced that its board has approved a share buyback program on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Peter Zaffino sold 333,000 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John C. Inglis purchased 659 shares of the company's stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now directly owns 659 shares of the company's stock, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Peter Zaffino sold 333,000 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares of the company's stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently bought and sold shares of AIG. Whittier Trust Co. of Nevada Inc. boosted its position in shares of American International Group by 5.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider's stock valued at $210,000 after acquiring an additional 136 shares during the period. Sage Mountain Advisors LLC boosted its holdings in American International Group by 2.3% in the 1st quarter. Sage Mountain Advisors LLC now owns 6,700 shares of the insurance provider's stock valued at $524,000 after purchasing an additional 148 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of American International Group by 0.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider's stock worth $1,694,000 after purchasing an additional 154 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of American International Group by 0.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider's stock worth $1,257,000 after purchasing an additional 157 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in shares of American International Group by 1.3% during the third quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider's stock worth $776,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

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.