New Age Alpha Advisors LLC Increases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in American International Group, Inc. (AIG) by 14,629.8%, acquiring a total of 40,507 shares valued at approximately $3.5 million.
• Numerous hedge funds have also shown increased interest in AIG, with several making significant purchases during the 1st quarter, resulting in institutional investors owning 90.60% of the stock.
• AIG has received various analyst upgrades, with target prices ranging from $82.00 to $97.00, indicating a generally positive outlook on the stock's performance.

New Age Alpha Advisors LLC lifted its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 14,629.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,507 shares of the insurance provider's stock after buying an additional 40,232 shares during the quarter. New Age Alpha Advisors LLC's holdings in American International Group were worth $3,522,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in shares of American International Group during the 4th quarter valued at about $29,000. Sachetta LLC raised its holdings in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after buying an additional 249 shares during the period. NBC Securities Inc. purchased a new stake in shares of American International Group during the 1st quarter valued at about $47,000. Colonial Trust Co SC raised its position in shares of American International Group by 150.2% in the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock valued at $54,000 after purchasing an additional 443 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of American International Group by 159.6% in the 4th quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider's stock valued at $76,000 after purchasing an additional 640 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 0.2%

NYSE:AIG opened at $78.44 on Wednesday. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The firm has a market capitalization of $45.21 billion, a P/E ratio of -29.49, a P/E/G ratio of 0.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50 day simple moving average of $82.78 and a 200 day simple moving average of $81.14.

Analyst Ratings Changes

A number of equities analysts have issued reports on AIG shares. William Blair raised American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods upped their target price on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Morgan Stanley upped their target price on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company upped their target price on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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