Abner Herrman & Brock LLC Buys 5,581 Shares of American International Group, Inc. $AIG

Key Points

• Abner Herrman & Brock LLC increased its stake in American International Group by 3.5%, acquiring an additional 5,581 shares and owning a total of 164,827 shares valued at approximately $14.1 million.
• American International Group's stock has a consensus rating of "Moderate Buy" with a target price of $88.27, as assessed by multiple equity analysts, including recent changes from firms like Keefe, Bruyette & Woods and Citigroup.
• The company recently announced a quarterly dividend of $0.45, translating to an annual yield of 2.3%, with the ex-dividend date set for September 16.

Abner Herrman & Brock LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,827 shares of the insurance provider's stock after acquiring an additional 5,581 shares during the period. Abner Herrman & Brock LLC's holdings in American International Group were worth $14,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AIG. Brighton Jones LLC bought a new position in American International Group during the 4th quarter worth $1,091,000. Focus Partners Wealth boosted its holdings in shares of American International Group by 19.2% in the 4th quarter. Focus Partners Wealth now owns 14,606 shares of the insurance provider's stock valued at $1,063,000 after purchasing an additional 2,350 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in shares of American International Group by 8.2% in the 4th quarter. Gotham Asset Management LLC now owns 23,402 shares of the insurance provider's stock valued at $1,704,000 after purchasing an additional 1,780 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of American International Group in the 4th quarter valued at $1,496,000. Finally, ProShare Advisors LLC boosted its holdings in shares of American International Group by 7.5% in the 4th quarter. ProShare Advisors LLC now owns 137,113 shares of the insurance provider's stock valued at $9,982,000 after purchasing an additional 9,585 shares in the last quarter. Institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Cfra Research raised American International Group to a "moderate buy" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods reduced their target price on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Citigroup initiated coverage on American International Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price objective on the stock. Morgan Stanley raised their price objective on 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, Wall Street Zen downgraded American International Group from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Stock Performance

Shares of American International Group stock opened at $78.90 on Friday. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The firm has a market capitalization of $43.71 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.84 and a beta of 0.70. The business has a 50-day simple moving average of $80.34 and a 200 day simple moving average of $82.11. 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 - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the previous year, the business earned $1.16 EPS. On average, research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group's dividend payout ratio is presently 34.09%.

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.

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