Prospera Financial Services Inc purchased a new position in American International Group, Inc. (NYSE:AIG – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,708 shares of the insurance provider’s stock, valued at approximately $107,000.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of American International Group in the 4th quarter valued at $506,692,000. Nuveen Asset Management LLC boosted its stake in shares of American International Group by 12.2% in the 4th quarter. Nuveen Asset Management LLC now owns 11,557,773 shares of the insurance provider’s stock valued at $657,176,000 after purchasing an additional 1,256,195 shares in the last quarter. Eaton Vance Management boosted its stake in shares of American International Group by 29.9% in the 4th quarter. Eaton Vance Management now owns 2,741,127 shares of the insurance provider’s stock valued at $154,872,000 after purchasing an additional 630,592 shares in the last quarter. Waverton Investment Management Ltd purchased a new stake in shares of American International Group in the 1st quarter valued at $34,003,000. Finally, First Trust Advisors LP boosted its stake in shares of American International Group by 572.3% in the 4th quarter. First Trust Advisors LP now owns 610,514 shares of the insurance provider’s stock valued at $34,714,000 after purchasing an additional 519,708 shares in the last quarter. Institutional investors own 92.57% of the company’s stock.
American International Group Trading Up 1.4 %
NYSE:AIG opened at $51.83 on Friday. The company has a 50-day moving average price of $52.57 and a 200-day moving average price of $57.62. American International Group, Inc. has a 12 month low of $48.40 and a 12 month high of $65.73. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.52. The stock has a market cap of $41.06 billion, a price-to-earnings ratio of 4.48 and a beta of 1.19.
American International Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 3rd that allows the company to repurchase $6.50 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
AIG has been the subject of a number of research reports. Barclays cut their price objective on shares of American International Group from $63.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. StockNews.com cut shares of American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $81.00 price target on shares of American International Group in a research report on Tuesday, May 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.57.
About American International Group
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
- Get a free copy of the StockNews.com research report on American International Group (AIG)
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