American International Group (AIG) Received its Third Buy in a Row

By Ryan Adsit

After Piper Sandler and RBC Capital gave American International Group (NYSE: AIG) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Elyse Greenspan maintained a Buy rating on American International Group yesterday and set a price target of $38.00. The company’s shares closed last Monday at $24.07.

According to TipRanks.com, Greenspan is a 1-star analyst with an average return of -1.8% and a 50.0% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, United Insurance Holdings, and Arthur J Gallagher & Co.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American International Group with a $40.50 average price target.

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American International Group’s market cap is currently $20.73B and has a P/E ratio of 6.40. The company has a Price to Book ratio of 0.34.

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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. The General Insurance segment consists of insurance businesses in North America and International business areas. The Life and Retirement segment includes Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets. The Other Operations segment covers income from assets held by the company and other corporate subsidiaries. The Legacy Portfolio segment consists of run-off insurance lines and legacy investments. The company was founded by Cornelius Vander Starr in 1919 and is headquartered in New York, NY.