Essex Financial Services Inc. Has $289,000 Stake in American International Group, Inc. (NYSE:AIG)

Essex Financial Services Inc. boosted its stake in American International Group, Inc. (NYSE:AIG) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,975 shares of the insurance provider’s stock after buying an additional 219 shares during the quarter. Essex Financial Services Inc.’s holdings in American International Group were worth $289,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AIG. CX Institutional boosted its stake in American International Group by 3.6% in the 3rd quarter. CX Institutional now owns 5,426 shares of the insurance provider’s stock valued at $397,000 after buying an additional 187 shares in the last quarter. Creative Planning boosted its stake in American International Group by 20.6% in the 3rd quarter. Creative Planning now owns 50,014 shares of the insurance provider’s stock valued at $3,663,000 after buying an additional 8,556 shares in the last quarter. NBC Securities Inc. boosted its stake in American International Group by 241.6% in the 3rd quarter. NBC Securities Inc. now owns 673 shares of the insurance provider’s stock valued at $49,000 after buying an additional 476 shares in the last quarter. Opal Wealth Advisors LLC boosted its stake in American International Group by 11.8% in the 3rd quarter. Opal Wealth Advisors LLC now owns 3,201 shares of the insurance provider’s stock valued at $234,000 after buying an additional 338 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in American International Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,606 shares of the insurance provider’s stock valued at $777,000 after purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Down 0.6 %

Shares of American International Group stock opened at $76.36 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $68.04 and a 12 month high of $80.83. The business has a fifty day simple moving average of $73.46 and a 200 day simple moving average of $74.48. The stock has a market cap of $47.63 billion, a PE ratio of -22.53, a price-to-earnings-growth ratio of 5.87 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. Research analysts predict that American International Group, Inc. will post 4.89 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Analysts Set New Price Targets

AIG has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods cut 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. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.13.

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.