Fortitude Family Office LLC Purchases 210 Shares of American International Group, Inc. (NYSE:AIG)

Fortitude Family Office LLC grew its position in shares of American International Group, Inc. (NYSE:AIG) by 58.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 570 shares of the insurance provider’s stock after acquiring an additional 210 shares during the quarter. Fortitude Family Office LLC’s holdings in American International Group were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new stake in shares of American International Group during the third quarter valued at approximately $494,000. M&T Bank Corp increased its holdings in shares of American International Group by 329.0% during the third quarter. M&T Bank Corp now owns 98,964 shares of the insurance provider’s stock valued at $7,247,000 after acquiring an additional 75,894 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of American International Group by 9.3% during the fourth quarter. GAMMA Investing LLC now owns 11,118 shares of the insurance provider’s stock valued at $809,000 after acquiring an additional 950 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of American International Group by 15.8% during the third quarter. Intech Investment Management LLC now owns 95,531 shares of the insurance provider’s stock valued at $6,996,000 after acquiring an additional 13,028 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of American International Group by 1.3% during the third quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock valued at $53,785,000 after acquiring an additional 9,118 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the subject of several recent research reports. Bank of America upped their price target on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group upped their price target on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods decreased their price target on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.06.

American International Group Stock Performance

Shares of AIG opened at $70.52 on Friday. The stock has a market capitalization of $43.99 billion, a price-to-earnings ratio of -20.80, a price-to-earnings-growth ratio of 7.30 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $74.18 and its 200 day simple moving average is $74.72. American International Group, Inc. has a 52-week low of $66.06 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last announced its 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 analyst estimates 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 period in the prior year, the company earned $1.61 EPS. Research analysts forecast that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a $0.40 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. American International Group’s dividend payout ratio is currently -47.20%.

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.