Parsons Capital Management Inc. RI Purchases 19,725 Shares of American International Group, Inc. (NYSE:AIG)

Parsons Capital Management Inc. RI increased its position in shares of American International Group, Inc. (NYSE:AIG) by 95.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,333 shares of the insurance provider’s stock after purchasing an additional 19,725 shares during the period. Parsons Capital Management Inc. RI’s holdings in American International Group were worth $2,936,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AIG. Christopher J. Hasenberg Inc bought a new stake in shares of American International Group during the 3rd quarter valued at $26,000. True Wealth Design LLC bought a new stake in American International Group in the 3rd quarter valued at $29,000. Fortitude Family Office LLC increased its holdings in American International Group by 58.3% in the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 210 shares during the last quarter. Continuum Advisory LLC increased its holdings in American International Group by 60.7% in the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 207 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of American International Group in the 3rd quarter worth about $46,000. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Jefferies Financial Group boosted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America lifted their price target on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group lifted their price target on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.13.

American International Group Price Performance

NYSE AIG opened at $74.82 on Monday. American International Group, Inc. has a 52-week low of $67.53 and a 52-week high of $80.83. The firm’s 50 day moving average price is $73.80 and its 200-day moving average price is $74.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $46.67 billion, a PE ratio of -21.92, a P/E/G ratio of 5.89 and a beta of 1.06.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the prior year, the company posted $1.61 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 4.89 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. American International Group’s dividend payout ratio is currently -47.20%.

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.