Merit Financial Group LLC Boosts Stock Position in American International Group, Inc. $AIG

Merit Financial Group LLC lifted its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 11.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,339 shares of the insurance provider's stock after buying an additional 4,296 shares during the period. Merit Financial Group LLC's holdings in American International Group were worth $3,538,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AIG. Sachetta LLC increased its stake in American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 249 shares in the last quarter. Barrett & Company Inc. acquired a new stake in American International Group during the 2nd quarter valued at $35,000. Hemington Wealth Management grew its holdings in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after buying an additional 142 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in American International Group during the 2nd quarter valued at $42,000. Finally, NBC Securities Inc. acquired a new stake in American International Group during the 1st quarter valued at $47,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of AIG stock opened at $84.04 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $79.48 and a two-hundred day moving average of $81.69. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a market cap of $46.56 billion, a P/E ratio of 15.92, a PEG ratio of 0.89 and a beta of 0.68.

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 (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. American International Group's dividend payout ratio is currently 34.09%.

Analysts Set New Price Targets

A number of brokerages have commented on AIG. Jefferies Financial Group increased their target price on American International Group from $96.00 to $99.00 and gave the company a "buy" rating in a report on Tuesday. Evercore ISI increased their target price on American International Group from $89.00 to $90.00 and gave the company an "in-line" rating in a report on Wednesday, October 1st. Wall Street Zen upgraded American International Group from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. The Goldman Sachs Group raised their price objective on American International Group from $85.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Cantor Fitzgerald upgraded American International Group to a "hold" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, American International Group has an average rating of "Moderate Buy" and an average target price of $88.44.

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.

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