Wells Fargo & Company Has Lowered Expectations for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its target price decreased by analysts at Wells Fargo & Company from $87.00 to $86.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 11.80% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Mizuho boosted their price target on shares of American International Group from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. The Goldman Sachs Group decreased their price target on shares of American International Group from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen boosted their price objective on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Morgan Stanley cut 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 report on Monday, April 6th. Finally, Evercore cut their price objective on shares of American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.59.

American International Group Price Performance

Shares of AIG stock opened at $76.92 on Thursday. American International Group has a 12-month low of $71.25 and a 12-month high of $87.46. The firm has a market capitalization of $41.30 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.59 and a beta of 0.59. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $77.05 and a 200-day moving average of $78.22.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.99 billion. During the same quarter in the previous year, the business earned $1.30 EPS. On average, equities research analysts forecast that American International Group will post 6.24 earnings per share for the current year.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westfuller Advisors LLC bought a new stake in American International Group during the 3rd quarter worth about $26,000. Modus Advisors LLC bought a new stake in American International Group during the 4th quarter worth about $27,000. Atlantic Union Bankshares Corp lifted its position in American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares in the last quarter. Navalign LLC bought a new stake in American International Group during the 4th quarter worth about $29,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in American International Group during the 4th quarter worth about $29,000. 90.60% of the stock is owned by institutional investors.

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.