Cetera Investment Advisers Purchases 15,684 Shares of American International Group, Inc. (NYSE:AIG)

Key Points

• Cetera Investment Advisers increased its stake in American International Group (AIG) by 29.5% in Q1, holding 68,893 shares valued at approximately $5.99 million.
• Other institutional investors like Sachetta LLC and True Wealth Design LLC have also significantly increased their holdings in AIG, contributing to a total institutional ownership of 90.60%.
• Analysts have raised their target prices for AIG, with firms like Morgan Stanley and Keefe, Bruyette & Woods giving target prices of $85.00 and $97.00 respectively, while the stock retains a consensus rating of "Moderate Buy".

Cetera Investment Advisers grew its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 29.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,893 shares of the insurance provider's stock after acquiring an additional 15,684 shares during the quarter. Cetera Investment Advisers' holdings in American International Group were worth $5,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ameriflex Group Inc. acquired a new stake in American International Group in the 4th quarter worth $29,000. Sachetta LLC increased its stake in American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 249 shares during the period. NBC Securities Inc. bought a new position in American International Group during the first quarter valued at about $47,000. Colonial Trust Co SC lifted its position in shares of American International Group by 150.2% in the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock worth $54,000 after acquiring an additional 443 shares during the period. Finally, True Wealth Design LLC grew its holdings in shares of American International Group by 159.6% during the 4th quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider's stock worth $76,000 after purchasing an additional 640 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Price Performance

Shares of American International Group stock traded up $1.27 during trading on Monday, reaching $78.27. The company's stock had a trading volume of 4,757,871 shares, compared to its average volume of 4,305,770. The stock has a 50-day moving average price of $82.94 and a two-hundred day moving average price of $81.14. The stock has a market capitalization of $45.11 billion, a P/E ratio of -29.42, a price-to-earnings-growth 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. American International Group, Inc. has a one year low of $69.00 and a one year high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.89 billion. During the same quarter last year, the company posted $1.25 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on AIG shares. William Blair raised American International Group to a "strong-buy" rating in a research report on Friday. 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. Barclays upped their target price on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Wells Fargo & Company increased their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.33.

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.