Merit Financial Group LLC Invests $1.26 Million in American International Group, Inc. (NYSE:AIG)

Merit Financial Group LLC acquired a new position in American International Group, Inc. (NYSE:AIG) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,312 shares of the insurance provider’s stock, valued at approximately $1,260,000.

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

American International Group Stock Performance

Shares of AIG stock opened at $75.06 on Tuesday. The stock has a fifty day moving average of $73.89 and a 200 day moving average of $74.67. American International Group, Inc. has a 52 week low of $66.06 and a 52 week high of $80.83. The firm has a market capitalization of $46.82 billion, a price-to-earnings ratio of -22.14, a PEG ratio of 5.51 and a beta of 1.06. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm posted $1.61 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 4.91 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Monday, December 16th. American International Group’s payout ratio is -47.20%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AIG shares. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Jefferies Financial Group increased their price target on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI reduced their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.13.

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.