In a report released yesterday, Elyse Greenspan from Wells Fargo reiterated a Buy rating on American International Group (NYSE: AIG). The company’s shares closed yesterday at $52.92.
According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 4.5% and a 50.7% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Renaissancere Holdings Ltd, and United Insurance Holdings.
Currently, the analyst consensus on American International Group is Moderate Buy and the average price target is $61, representing a 15.3% upside.
In a report issued on May 10, Goldman Sachs also upgraded the stock to Buy with a $64 price target.
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Based on American International Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $11.73 billion and net profit of $938 million. In comparison, last year the company earned revenue of $12.96 billion and had a net profit of $1.19 billion.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is neutral on the stock.
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American International Group, Inc. engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement, Other Operations, and Legacy Portfolio.
