LRI Investments LLC Acquires 343 Shares of American International Group, Inc. (NYSE:AIG)

LRI Investments LLC lifted its holdings in American International Group, Inc. (NYSE:AIG) by 7.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,905 shares of the insurance provider’s stock after acquiring an additional 343 shares during the period. LRI Investments LLC’s holdings in American International Group were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. bought a new position in shares of American International Group in the 4th quarter worth about $25,000. Asset Planning Inc bought a new position in shares of American International Group in the 4th quarter worth about $26,000. BankPlus Trust Department bought a new position in shares of American International Group in the 4th quarter worth about $36,000. Whipplewood Advisors LLC bought a new position in shares of American International Group in the 4th quarter worth about $40,000. Finally, Colonial Trust Co SC increased its position in American International Group by 150.2% in the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider’s stock valued at $54,000 after buying an additional 443 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Activity

In other American International Group news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AIG. BMO Capital Markets boosted their target price on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, March 13th. Wells Fargo & Company boosted their target price on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft boosted their target price on American International Group to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. Finally, Evercore ISI boosted their target price on American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.88.

American International Group Stock Performance

AIG stock opened at $82.39 on Monday. The firm has a market cap of $47.48 billion, a PE ratio of -39.61, a P/E/G ratio of 1.01 and a beta of 0.69. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $82.30 and a 200-day moving average of $77.51. 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 released its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. American International Group’s dividend payout ratio is currently -67.67%.

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.