Envestnet Portfolio Solutions Inc. Buys 973 Shares of American International Group, Inc. (NYSE:AIG)

Envestnet Portfolio Solutions Inc. boosted its position in shares of American International Group, Inc. (NYSE:AIG) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,247 shares of the insurance provider’s stock after purchasing an additional 973 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in American International Group were worth $1,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new stake in American International Group during the 4th quarter worth about $25,000. Asset Planning Inc acquired a new position in shares of American International Group during the 4th quarter worth approximately $26,000. True Wealth Design LLC bought a new stake in shares of American International Group during the 3rd quarter worth approximately $29,000. BankPlus Trust Department acquired a new stake in shares of American International Group in the 4th quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC bought a new position in shares of American International Group in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AIG shares. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Wells Fargo & Company lifted their target price on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. BMO Capital Markets upped their target price on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, March 13th. Finally, UBS Group decreased their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.31.

Insider Activity at American International Group

In other American International Group news, Director John G. Rice purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Down 0.8 %

NYSE AIG opened at $83.03 on Friday. The business has a fifty day moving average price of $77.45 and a two-hundred day moving average price of $75.56. The stock has a market capitalization of $49.27 billion, a PE ratio of -39.92, a PEG ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $84.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s payout ratio is -76.92%.

American International Group 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.