RNC Capital Management LLC Buys New Position in American International Group, Inc. (NYSE:AIG)

RNC Capital Management LLC purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,000 shares of the insurance provider’s stock, valued at approximately $1,456,000.

Several other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in American International Group during the third quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in shares of American International Group in the third quarter valued at approximately $29,000. Fortitude Family Office LLC increased its holdings 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 valued at $41,000 after purchasing an additional 210 shares during the last quarter. Continuum Advisory LLC grew its position in 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 acquiring an additional 207 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in American International Group in the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of several analyst reports. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lowered their price objective on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. The Goldman Sachs Group restated 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.13.

American International Group Stock Performance

AIG opened at $74.60 on Friday. The stock has a market cap of $46.53 billion, a P/E ratio of -22.00, a P/E/G ratio of 5.80 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50 day simple moving average is $73.54 and its 200 day simple moving average is $74.50. American International Group, Inc. has a 1-year low of $67.96 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the prior year, the firm posted $1.61 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 4.89 EPS for the current fiscal year.

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.