Frank Rimerman Advisors LLC Acquires New Shares in American International Group, Inc. (NYSE:AIG)

Key Points

• Frank Rimerman Advisors LLC has acquired a new stake in American International Group (NYSE:AIG), purchasing 4,106 shares valued at approximately $357,000.
• AIG is currently seeing increased interest from institutional investors, with Wealth Enhancement Advisory Services LLC boosting its stake by 175.0% during the same period.
• Research analysts are optimistic about AIG's stock; multiple firms have raised their target prices, indicating a consensus rating of "Moderate Buy" with an average price target of $88.33.

Frank Rimerman Advisors LLC acquired a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,106 shares of the insurance provider's stock, valued at approximately $357,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of American International Group by 175.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock valued at $15,807,000 after purchasing an additional 115,706 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of American International Group by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock valued at $1,445,000 after purchasing an additional 355 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of American International Group by 34.9% in the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock valued at $251,000 after purchasing an additional 745 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of American International Group by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock valued at $1,146,000 after purchasing an additional 2,069 shares during the last quarter. Finally, Brighton Jones LLC acquired a new position in American International Group during the 4th quarter worth $1,091,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays boosted their target price on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. William Blair raised shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. 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 research report on Tuesday, May 6th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.33.

American International Group Price Performance

Shares of American International Group stock opened at $78.12 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $43.28 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.85 and a beta of 0.63. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The firm's 50-day moving average price is $82.43 and its two-hundred day moving average price is $81.25.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, equities analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio is presently 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.

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