Moors & Cabot Inc. Boosts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Moors & Cabot Inc. grew its position in shares of American International Group, Inc. (NYSE:AIG) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,196 shares of the insurance provider’s stock after acquiring an additional 663 shares during the quarter. Moors & Cabot Inc.’s holdings in American International Group were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AIG. Wealth Enhancement Advisory Services LLC raised its stake in shares of American International Group by 175.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider’s stock worth $15,807,000 after purchasing an additional 115,706 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of American International Group by 2.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider’s stock worth $1,445,000 after purchasing an additional 355 shares during the period. IFP Advisors Inc raised its stake in shares of American International Group by 34.9% during the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider’s stock worth $251,000 after purchasing an additional 745 shares during the period. GAMMA Investing LLC raised its stake in shares of American International Group by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider’s stock worth $1,146,000 after purchasing an additional 2,069 shares during the period. Finally, Brighton Jones LLC bought a new stake in shares of American International Group during the 4th quarter worth $1,091,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIG has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Barclays upped their price objective on shares of American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $91.00 price objective (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Morgan Stanley upped their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Finally, Wells Fargo & Company upped their price objective on shares of American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.33.

American International Group Trading Down 0.9%

Shares of American International Group stock opened at $76.97 on Monday. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07. The company has a market cap of $44.36 billion, a price-to-earnings ratio of -28.94, a PEG ratio of 0.85 and a beta of 0.63. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $82.94 and its 200-day moving average price is $81.14.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

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.