Westfield Capital Management Co. LP Has $3.18 Million Stock Position in American International Group, Inc. (NYSE:AIG)

Key Points

• Westfield Capital Management Co. LP significantly decreased its position in American International Group (AIG) by 81.5%, selling 161,426 shares and holding 36,560 shares valued at approximately $3.18 million.
• American International Group has seen interest from other institutional investors, with several firms increasing their stakes, including Pinnacle Associates Ltd. and Miracle Mile Advisors LLC, both by 1.6% during the first quarter.
• The company has received analyst upgrades, with Barclays raising its price target to $93 and William Blair giving AIG a "strong-buy" rating, as it holds a consensus rating of "Moderate Buy" with a target price of $88.33.

Westfield Capital Management Co. LP decreased its position in American International Group, Inc. (NYSE:AIG - Free Report) by 81.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,560 shares of the insurance provider's stock after selling 161,426 shares during the period. Westfield Capital Management Co. LP's holdings in American International Group were worth $3,179,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. lifted its holdings in shares of American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock valued at $670,000 after purchasing an additional 122 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in American International Group by 1.6% in the first quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock valued at $704,000 after buying an additional 124 shares in the last quarter. Western Pacific Wealth Management LP increased its position in shares of American International Group by 2.3% during the first quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after acquiring an additional 125 shares in the last quarter. Montag A & Associates Inc. boosted its stake in American International Group by 0.7% in the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after purchasing an additional 130 shares during the period. Finally, Carnegie Investment Counsel lifted its holdings in shares of American International Group by 3.1% in the first quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock valued at $375,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. William Blair upgraded American International Group to a "strong-buy" rating in a report on Friday, August 1st. Wells Fargo & Company upped their target price on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $91.00 target price (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Finally, Jefferies Financial Group upped their target price on American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

American International Group Price Performance

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

American International Group Company 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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