American International Group, Inc. (NYSE:AIG) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in American International Group (AIG) by 49.0% in the 1st quarter, now holding 501,234 shares valued at approximately $43.6 million.
• After the latest earnings report, AIG reported $1.17 earnings per share, exceeding the consensus estimate by $0.13, despite a revenue of $6.77 billion that fell short of expectations.
• Brokerage firms have updated their price targets for AIG, with estimates ranging from $82.00 to $97.00, reflecting a generally optimistic outlook on the stock.

LPL Financial LLC boosted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 49.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 501,234 shares of the insurance provider's stock after buying an additional 164,903 shares during the period. LPL Financial LLC owned approximately 0.08% of American International Group worth $43,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of American International Group by 175.0% in the first 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 in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of 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 acquiring an additional 355 shares during the period. IFP Advisors Inc raised its stake in shares of American International Group by 34.9% in the first quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock valued at $251,000 after acquiring an additional 745 shares in the last quarter. GAMMA Investing LLC boosted its holdings in American International Group by 18.6% in the first 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 period. Finally, Brighton Jones LLC acquired a new position in American International Group during the 4th quarter worth $1,091,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE AIG traded up $1.27 during mid-day trading on Monday, hitting $78.27. 4,757,871 shares of the company were exchanged, compared to its average volume of 4,305,770. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $82.94 and a 200-day simple moving average of $81.14. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The firm has a market cap of $45.11 billion, a price-to-earnings ratio of -29.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same quarter last year, the company earned $1.25 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on AIG shares. Wells Fargo & Company upped their target price on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Barclays upped 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 note on Friday, May 2nd. JPMorgan Chase & Co. restated a "neutral" rating and set a $91.00 target price (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods upped 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 note on Thursday, May 8th. Finally, Jefferies Financial Group upped their target price on shares of American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.33.

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.