Sit Investment Associates Inc. Buys 9,470 Shares of American International Group, Inc. (NYSE:AIG)

Sit Investment Associates Inc. lifted its stake in shares of American International Group, Inc. (NYSE:AIG) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 135,464 shares of the insurance provider’s stock after buying 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.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Catalina Capital Group LLC increased its position in American International Group by 5.1% during the 4th quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 148 shares during the period. Pitcairn Co. increased its holdings in American International Group by 2.2% during the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock valued at $536,000 after buying an additional 158 shares during the period. Hilltop National Bank raised its stake in American International Group by 4.7% in the fourth quarter. Hilltop National Bank now owns 3,888 shares of the insurance provider’s stock worth $283,000 after buying an additional 175 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in American International Group by 2.1% during the fourth quarter. Cidel Asset Management Inc. now owns 8,711 shares of the insurance provider’s stock worth $634,000 after buying an additional 179 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in American International Group by 11.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,745 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 179 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE AIG opened at $78.83 on Friday. The company has a 50 day simple moving average of $79.60 and a two-hundred day simple moving average of $76.36. The stock has a market cap of $46.77 billion, a price-to-earnings ratio of -37.90, a PEG ratio of 1.01 and a beta of 0.63. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07.

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

American International Group Announces Dividend

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

Insider Activity at American International Group

In other news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $770,000. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AIG shares. The Goldman Sachs Group upped their price objective on American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 1st. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced 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 research note on Friday, January 3rd. BMO Capital Markets raised 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. Finally, Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.12.

American International Group 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.