Aspen Investment Management Inc Boosts Stock Position in American International Group, Inc. $AIG

Aspen Investment Management Inc raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 17.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,120 shares of the insurance provider’s stock after buying an additional 1,069 shares during the quarter. Aspen Investment Management Inc’s holdings in American International Group were worth $609,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AIG. Pinnacle Associates Ltd. raised its position in shares of American International Group by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock worth $670,000 after purchasing an additional 122 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in American International Group by 2.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $468,000 after purchasing an additional 126 shares in the last quarter. Monument Capital Management increased its stake in American International Group by 3.5% during the 2nd quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock valued at $328,000 after purchasing an additional 129 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after buying an additional 130 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its stake in shares of American International Group by 3.1% in the first quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider’s stock worth $375,000 after buying an additional 131 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AIG. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. William Blair raised American International Group to a “strong-buy” rating in a report on Friday, August 1st. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a research note on Thursday, November 13th. Wolfe Research assumed coverage on American International Group in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley decreased their target price on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

American International Group Price Performance

Shares of NYSE:AIG opened at $77.04 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $41.57 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. The firm’s 50 day moving average price is $78.71 and its 200-day moving average price is $80.95. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the prior year, the company earned $1.23 earnings per share. Equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, December 16th. American International Group’s dividend payout ratio is 32.73%.

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.