Frank Rimerman Advisors LLC Invests $357,000 in American International Group, Inc. (NYSE:AIG)

Frank Rimerman Advisors LLC bought a new position in shares of American International Group, Inc. (NYSE:AIG) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,106 shares of the insurance provider’s stock, valued at approximately $357,000.

Several other large investors have also bought and sold shares of the business. Zions Bancorporation National Association UT acquired a new position in American International Group in the first quarter valued at approximately $515,000. Townsquare Capital LLC lifted its holdings in American International Group by 5.4% in the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider’s stock valued at $10,009,000 after buying an additional 5,899 shares during the period. AlphaCore Capital LLC lifted its holdings in American International Group by 7.0% in the first quarter. AlphaCore Capital LLC now owns 13,208 shares of the insurance provider’s stock valued at $1,148,000 after buying an additional 859 shares during the period. Fayez Sarofim & Co acquired a new position in American International Group in the first quarter valued at approximately $219,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in American International Group by 7.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,075,806 shares of the insurance provider’s stock valued at $93,531,000 after buying an additional 77,638 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased 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. Wall Street Zen upgraded shares of American International Group from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods increased their target price on shares of American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Barclays increased their target price on shares of American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, Morgan Stanley increased their target price on shares of American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

American International Group Trading Up 2.0%

Shares of NYSE:AIG opened at $78.12 on Monday. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $82.43 and its 200 day simple moving average is $81.25. The firm has a market cap of $43.28 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.85 and a beta of 0.63.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the business posted $1.16 earnings per share. As a group, research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio (DPR) is 34.09%.

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.