American International Group (AIG) Receives a Buy from Wells Fargo

By Jason Carr

Wells Fargo analyst Elyse Greenspan maintained a Buy rating on American International Group (AIGResearch Report) on December 6. The company’s shares closed last Monday at $51.86.

According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 5.7% and a 65.2% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, United Insurance Holdings, and Arthur J Gallagher & Co.

Currently, the analyst consensus on American International Group is a Moderate Buy with an average price target of $58.75.

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Based on American International Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $12.37 billion and net profit of $656 million. In comparison, last year the company earned revenue of $11.77 billion and had a GAAP net loss of $1.26 billion.

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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.