Jefferies Financial Group Inc. Takes $711,000 Position in American International Group, Inc. (NYSE:AIG)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in American International Group (AIG), purchasing 8,175 shares valued at approximately $711,000 during the first quarter.
• Several institutional investors have also increased their positions in AIG, with notable increases from Foster & Motley Inc. (6.8%) and Arkadios Wealth Advisors (301.9%).
• AIG's stock price recently opened at $78.44, with analysts giving it a consensus rating of "Moderate Buy" and a target price of around $88.33.

Jefferies Financial Group Inc. bought a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,175 shares of the insurance provider's stock, valued at approximately $711,000.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its holdings in American International Group by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after purchasing an additional 122 shares during the period. Miracle Mile Advisors LLC increased its position in American International Group by 1.6% in the first quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock worth $704,000 after buying an additional 124 shares in the last quarter. Western Pacific Wealth Management LP increased its position in American International Group by 2.3% in the first quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after buying an additional 125 shares in the last quarter. Montag A & Associates Inc. raised its stake in shares of American International Group by 0.7% in the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after buying an additional 130 shares during the period. Finally, Carnegie Investment Counsel lifted its position in shares of American International Group by 3.1% during the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock valued at $375,000 after buying an additional 131 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AIG shares. 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. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Jefferies Financial Group lifted their target price on shares of American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wells Fargo & Company raised their price target on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $91.00 price objective (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, American International Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

American International Group Trading Up 0.8%

AIG traded up $0.63 on Wednesday, hitting $79.07. The company had a trading volume of 4,235,061 shares, compared to its average volume of 4,256,040. The business's fifty day simple moving average is $82.78 and its 200 day simple moving average is $81.14. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a market cap of $45.57 billion, a PE ratio of -29.73, a PEG ratio of 0.86 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.15. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same period last year, the business posted $1.16 earnings per share. Equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 2.3%. American International Group's dividend payout ratio (DPR) is -67.67%.

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.