Merrion Investment Management Co LLC Purchases 18,400 Shares of American International Group, Inc. (NYSE:AIG)

Merrion Investment Management Co LLC grew its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 153.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,400 shares of the insurance provider's stock after purchasing an additional 18,400 shares during the quarter. American International Group makes up approximately 1.9% of Merrion Investment Management Co LLC's holdings, making the stock its 13th biggest holding. Merrion Investment Management Co LLC's holdings in American International Group were worth $2,643,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Duncker Streett & Co. Inc. acquired a new stake in American International Group during the 4th quarter worth $25,000. Ameriflex Group Inc. acquired a new stake in shares of American International Group during the fourth quarter worth $29,000. BankPlus Trust Department acquired a new stake in shares of American International Group during the fourth quarter worth $36,000. Whipplewood Advisors LLC bought a new stake in American International Group in the fourth quarter valued at about $40,000. Finally, NBC Securities Inc. acquired a new position in American International Group in the first quarter valued at about $47,000. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Stock Up 0.1%

NYSE:AIG opened at $84.30 on Thursday. The stock has a 50-day simple moving average of $83.04 and a 200 day simple moving average of $79.02. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a market cap of $48.59 billion, a PE ratio of -31.69, a PEG ratio of 0.91 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same period last year, the business earned $1.25 EPS. On average, sell-side 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. Shareholders of record on Friday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 13th. This is a boost from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.14%. American International Group's payout ratio is -67.67%.

Insider Transactions at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIG. The Goldman Sachs Group boosted their target price on American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 1st. Morgan Stanley boosted their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company increased 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 report on Tuesday, May 6th. Evercore ISI lifted their price target on shares of American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Finally, Barclays upped their price objective on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.12.

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.

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