Merrion Investment Management Co LLC Invests $874,000 in American International Group, Inc. (NYSE:AIG)

Merrion Investment Management Co LLC acquired a new position in shares of American International Group, Inc. (NYSE:AIG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,000 shares of the insurance provider’s stock, valued at approximately $874,000.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of American International Group during the third quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in shares of American International Group during the third quarter worth approximately $29,000. Fortitude Family Office LLC increased its holdings in shares of American International Group by 58.3% during the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock worth $41,000 after buying an additional 210 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of American International Group by 60.7% in the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 207 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of American International Group in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 0.4 %

Shares of NYSE AIG opened at $75.46 on Thursday. The company’s fifty day moving average is $73.79 and its 200-day moving average is $74.63. The stock has a market cap of $47.07 billion, a price-to-earnings ratio of -22.26, a P/E/G ratio of 5.89 and a beta of 1.06. American International Group, Inc. has a twelve month low of $67.53 and a twelve month high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period last year, the firm posted $1.61 earnings per share. Equities research analysts predict that American International Group, Inc. will post 4.89 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. American International Group’s payout ratio is -47.20%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AIG shares. JPMorgan Chase & Co. lowered their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $79.00 price target (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Bank of America raised their price target on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price target on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group raised their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.13.

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.