DAVENPORT & Co LLC Raises Position in American International Group, Inc. (NYSE:AIG)

DAVENPORT & Co LLC raised its holdings in American International Group, Inc. (NYSE:AIG) by 148.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,732 shares of the insurance provider’s stock after acquiring an additional 4,621 shares during the quarter. DAVENPORT & Co LLC’s holdings in American International Group were worth $563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in American International Group in the 3rd quarter valued at approximately $26,000. True Wealth Design LLC purchased a new position in American International Group in the 3rd quarter valued at approximately $29,000. Continuum Advisory LLC boosted its position 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 buying an additional 207 shares during the period. Fortitude Family Office LLC raised its holdings in shares of 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 purchasing an additional 210 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of American International Group in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.1 %

Shares of American International Group stock opened at $74.69 on Friday. American International Group, Inc. has a 1 year low of $67.96 and a 1 year high of $80.83. 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 capitalization of $46.59 billion, a P/E ratio of -22.03, a PEG ratio of 5.80 and a beta of 1.05. The company’s fifty day moving average is $73.49 and its two-hundred day moving average is $74.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.