Merit Financial Group LLC Purchases 19,731 Shares of American International Group, Inc. (NYSE:AIG)

Merit Financial Group LLC boosted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 114.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,043 shares of the insurance provider's stock after purchasing an additional 19,731 shares during the quarter. Merit Financial Group LLC's holdings in American International Group were worth $3,220,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new stake in American International Group in the fourth quarter worth $25,000. Asset Planning Inc acquired a new stake in American International Group in the fourth quarter worth $26,000. Ameriflex Group Inc. acquired a new stake in American International Group in the fourth quarter worth $29,000. BankPlus Trust Department acquired a new stake in American International Group in the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in American International Group in the fourth quarter worth $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Up 0.4%

American International Group stock traded up $0.30 during midday trading on Thursday, hitting $85.31. 2,838,764 shares of the stock were exchanged, compared to its average volume of 4,415,902. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07. The stock has a market capitalization of $49.17 billion, a price-to-earnings ratio of -41.02, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. The business's 50-day moving average price is $82.52 and its 200-day moving average price is $78.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.45 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's payout ratio is -67.67%.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on shares of American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American International Group to $91.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Hsbc Global Res upgraded shares of American International Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. UBS Group reduced their price objective on shares of American International Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price objective on shares of American International Group from $75.00 to $83.00 and gave the company a "market perform" rating in a report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, American International Group has an average rating of "Moderate Buy" and an average target price of $88.12.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president now owns 21,400 shares of the company's stock, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.61% of the company's stock.

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.