Cerity Partners LLC Raises Stake in American International Group, Inc. (NYSE:AIG)

Cerity Partners LLC boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 27.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,855 shares of the insurance provider’s stock after purchasing an additional 9,295 shares during the period. Cerity Partners LLC’s holdings in American International Group were worth $2,903,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Custom Index Systems LLC purchased a new position in American International Group during the 4th quarter worth $326,000. Aspiriant LLC grew its position in American International Group by 3.4% during the 4th quarter. Aspiriant LLC now owns 5,417 shares of the insurance provider’s stock worth $367,000 after purchasing an additional 178 shares during the last quarter. Soltis Investment Advisors LLC purchased a new position in American International Group during the 4th quarter worth $3,792,000. Sequoia Financial Advisors LLC grew its position in American International Group by 121.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after purchasing an additional 21,279 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in American International Group during the 4th quarter worth $80,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AIG shares. Morgan Stanley raised their target price on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday. Citigroup raised their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group raised their target price on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. raised their target price on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Evercore ISI raised their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.06.

Insiders Place Their Bets

In other American International Group news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John C. Inglis purchased 659 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Performance

Shares of AIG opened at $72.99 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. The stock has a market cap of $49.70 billion, a P/E ratio of 14.63, a PEG ratio of 1.05 and a beta of 1.03. The company has a 50-day moving average of $74.10 and a two-hundred day moving average of $68.33. American International Group, Inc. has a 12-month low of $48.95 and a 12-month high of $78.95.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 earnings per share. As a group, research analysts predict that American International Group, Inc. will post 7.05 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, March 13th. American International Group’s payout ratio is currently 28.86%.

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.