Ethic Inc. Raises Stock Position in American International Group, Inc. (NYSE:AIG)

Ethic Inc. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 16.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,792 shares of the insurance provider’s stock after acquiring an additional 1,690 shares during the quarter. Ethic Inc.’s holdings in American International Group were worth $561,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AIG. Eudaimonia Partners LLC purchased a new position in American International Group during the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV purchased a new position in American International Group during the first quarter valued at approximately $28,000. Sierra Capital LLC purchased a new position in American International Group during the first quarter valued at approximately $33,000. Pflug Koory LLC purchased a new position in American International Group during the second quarter valued at approximately $39,000. Finally, RMR Wealth Builders increased its holdings in American International Group by 95.9% during the first quarter. RMR Wealth Builders now owns 866 shares of the insurance provider’s stock valued at $40,000 after buying an additional 424 shares during the period. 89.09% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on AIG shares. TheStreet raised shares of American International Group from a “c” rating to a “b-” rating in a report on Wednesday, September 8th. raised their target price on shares of American International Group from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, June 21st. Royal Bank of Canada raised their target price on shares of American International Group from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, August 9th. Morgan Stanley raised their target price on shares of American International Group from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, August 16th. Finally, Wolfe Research assumed coverage on shares of American International Group in a research note on Monday, August 16th. They issued an “outperform” rating and a $63.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, American International Group currently has an average rating of “Hold” and an average price target of $51.15.

NYSE:AIG opened at $54.35 on Friday. American International Group, Inc. has a 12 month low of $25.57 and a 12 month high of $55.78. The firm has a fifty day simple moving average of $51.43 and a 200-day simple moving average of $49.62. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $46.48 billion, a P/E ratio of 11.39, a PEG ratio of 1.11 and a beta of 1.37.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 4th. The insurance provider reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.32. The business had revenue of $11.99 billion during the quarter, compared to the consensus estimate of $11.56 billion. American International Group had a net margin of 9.35% and a return on equity of 5.83%. Equities analysts forecast that American International Group, Inc. will post 4.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.36%. American International Group’s dividend payout ratio is presently 50.79%.

American International Group declared that its board has initiated a share repurchase plan on Thursday, August 5th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 14.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About American International Group

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 and Other Operations.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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