Avestar Capital LLC Increases Stock Position in American International Group, Inc. (NYSE:AIG)

Avestar Capital LLC grew its stake in American International Group, Inc. (NYSE:AIG) by 9.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,981 shares of the insurance provider’s stock after purchasing an additional 358 shares during the quarter. Avestar Capital LLC’s holdings in American International Group were worth $290,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AIG. CX Institutional raised its holdings in American International Group by 3.6% in the 3rd quarter. CX Institutional now owns 5,426 shares of the insurance provider’s stock worth $397,000 after purchasing an additional 187 shares in the last quarter. Creative Planning raised its holdings in American International Group by 20.6% in the 3rd quarter. Creative Planning now owns 50,014 shares of the insurance provider’s stock worth $3,663,000 after purchasing an additional 8,556 shares in the last quarter. NBC Securities Inc. raised its holdings in American International Group by 241.6% in the 3rd quarter. NBC Securities Inc. now owns 673 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 476 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in American International Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,606 shares of the insurance provider’s stock worth $777,000 after purchasing an additional 298 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in American International Group by 1.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 61,040 shares of the insurance provider’s stock worth $4,470,000 after purchasing an additional 1,020 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

Shares of AIG stock opened at $74.27 on Friday. The company has a 50 day moving average price of $73.47 and a 200-day moving average price of $74.49. American International Group, Inc. has a 52 week low of $68.04 and a 52 week high of $80.83. The firm has a market capitalization of $46.33 billion, a PE ratio of -21.91, a P/E/G ratio of 5.87 and a beta of 1.05. 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 Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. As a group, equities research analysts expect that American International Group, Inc. will post 4.89 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 2.15%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Wall Street Analyst Weigh In

Several research analysts have commented on AIG shares. JPMorgan Chase & Co. decreased their price objective 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. Keefe, Bruyette & Woods increased their price target on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. Morgan Stanley increased their price target on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price target 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. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.06.

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.