Longboard Asset Management LP Purchases New Stake in American International Group, Inc. (NYSE:AIG)

Longboard Asset Management LP acquired a new position in American International Group, Inc. (NYSE:AIG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,987 shares of the insurance provider’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently added to or reduced their stakes in AIG. Christopher J. Hasenberg Inc acquired a new position in American International Group in the third quarter valued at approximately $26,000. True Wealth Design LLC bought a new stake in shares of American International Group in the 3rd quarter worth approximately $29,000. Continuum Advisory LLC lifted its holdings in shares of American International Group by 60.7% in the 3rd 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. Fortitude Family Office LLC boosted its position in American International Group by 58.3% during 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 during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of American International Group during the third quarter valued at $46,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

AIG stock opened at $73.08 on Tuesday. The firm has a 50-day moving average of $73.74 and a two-hundred day moving average of $74.56. The firm has a market capitalization of $45.59 billion, a PE ratio of -21.56, a P/E/G ratio of 5.80 and a beta of 1.06. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a one year low of $67.96 and a one year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data 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 negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the business posted $1.61 EPS. On average, analysts forecast that American International Group, Inc. will post 4.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Evercore ISI lowered their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 target price (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group boosted their price target on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.13.

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.