Northwest & Ethical Investments L.P. Acquires 16,353 Shares of American International Group, Inc. $AIG

Key Points

• Northwest & Ethical Investments L.P. increased its stake in American International Group (AIG) by 42%, acquiring an additional 16,353 shares, bringing its total holdings to 55,305 shares worth $4.8 million.
• Several other institutional investors also raised their positions in AIG, with Wealth Enhancement Advisory Services LLC boosting its shares by 175% during the same quarter.
• AIG received multiple analyst upgrades recently, with ratings shifting to a "moderate buy" and an increase in target prices, indicating growing investor confidence.

Northwest & Ethical Investments L.P. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 42.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,305 shares of the insurance provider's stock after buying an additional 16,353 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in American International Group were worth $4,808,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position 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 worth $15,807,000 after purchasing an additional 115,706 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of American International Group by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after purchasing an additional 355 shares during the period. AIA Group Ltd boosted its position in shares of American International Group by 169.6% in the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider's stock worth $901,000 after purchasing an additional 6,523 shares during the period. Townsquare Capital LLC boosted its position in shares of American International Group by 5.4% in the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider's stock worth $10,009,000 after purchasing an additional 5,899 shares during the period. Finally, IFP Advisors Inc boosted its position 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 worth $251,000 after purchasing an additional 745 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of recent analyst reports. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research report on Monday, August 11th. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. 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 report on Friday, May 2nd. Finally, Morgan Stanley upped their target price on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Price Performance

American International Group stock opened at $80.11 on Monday. The company has a market cap of $44.38 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.86 and a beta of 0.63. The firm's fifty day moving average is $81.80 and its 200 day moving average is $81.40. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group's dividend payout ratio is currently 34.09%.

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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