Barrett & Company Inc. Purchases New Shares in American International Group, Inc. $AIG

Barrett & Company Inc. purchased a new stake in American International Group, Inc. (NYSE:AIG) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 410 shares of the insurance provider’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patton Fund Management Inc. bought a new stake in American International Group during the second quarter worth about $232,000. AIA Group Ltd lifted its position in American International Group by 169.6% during the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider’s stock worth $901,000 after purchasing an additional 6,523 shares during the period. Townsquare Capital LLC lifted its position in American International Group by 5.4% during the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider’s stock worth $10,009,000 after purchasing an additional 5,899 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in American International Group by 175.0% during the first 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. Finally, Cambridge Investment Research Advisors Inc. lifted its position in American International Group by 2.2% during the first 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. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AIG. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Citigroup began coverage on shares of American International Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 target price for the company. William Blair raised shares of American International Group to a “strong-buy” rating in a report on Friday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of American International Group in a report on Saturday, September 27th. Finally, Wolfe Research began coverage on shares of American International Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.31.

American International Group Stock Up 1.8%

Shares of NYSE AIG opened at $81.05 on Friday. The company has a 50 day simple moving average of $79.30 and a 200 day simple moving average of $81.70. The firm has a market cap of $44.90 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.85 and a beta of 0.68. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion during 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 quarter last year, the business earned $1.16 EPS. On average, research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s dividend payout ratio is currently 34.09%.

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.