Sit Investment Associates Inc. Increases Stock Position in American International Group, Inc. (NYSE:AIG)

Sit Investment Associates Inc. boosted its holdings in American International Group, Inc. (NYSE:AIG) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,464 shares of the insurance provider’s stock after acquiring an additional 9,470 shares during the quarter. Sit Investment Associates Inc.’s holdings in American International Group were worth $9,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Artemis Investment Management LLP boosted its position in shares of American International Group by 115.9% during the fourth quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after buying an additional 147,235 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in shares of American International Group by 5.2% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after acquiring an additional 3,490 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of American International Group by 54.3% in the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after acquiring an additional 4,468 shares during the period. Merit Financial Group LLC purchased a new position in shares of American International Group during the fourth quarter valued at approximately $1,260,000. Finally, Williams & Novak LLC bought a new position in American International Group during the fourth quarter valued at approximately $279,000. Institutional investors own 90.60% of the company’s stock.

Insider Activity

In related news, Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AIG. BMO Capital Markets boosted their target price on shares of American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday, March 13th. The Goldman Sachs Group increased their target price on American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of American International Group to $91.00 and gave the stock a “buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.12.

American International Group Stock Down 8.5 %

NYSE AIG opened at $78.83 on Friday. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The stock has a market cap of $46.77 billion, a PE ratio of -37.90, a P/E/G ratio of 1.01 and a beta of 0.63. The stock’s 50 day moving average is $79.60 and its 200 day moving average is $76.36.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 2.03%. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

American International Group Company Profile

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.