Forsta AP Fonden Has $16.47 Million Position in American International Group, Inc. (NYSE:AIG)

Forsta AP Fonden raised its position in American International Group, Inc. (NYSE:AIGGet Rating) by 51.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 262,300 shares of the insurance provider’s stock after acquiring an additional 89,300 shares during the quarter. Forsta AP Fonden’s holdings in American International Group were worth $16,465,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. National Asset Management Inc. raised its position in shares of American International Group by 9.3% in the fourth quarter. National Asset Management Inc. now owns 5,226 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 444 shares during the period. CWM LLC bought a new position in shares of American International Group in the fourth quarter valued at about $126,000. FDx Advisors Inc. raised its position in shares of American International Group by 8.8% in the fourth quarter. FDx Advisors Inc. now owns 15,016 shares of the insurance provider’s stock valued at $854,000 after purchasing an additional 1,212 shares during the period. AGF Investments Inc. raised its position in shares of American International Group by 61.6% in the fourth quarter. AGF Investments Inc. now owns 35,997 shares of the insurance provider’s stock valued at $2,047,000 after purchasing an additional 13,716 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of American International Group by 1.4% in the fourth quarter. Fifth Third Bancorp now owns 159,516 shares of the insurance provider’s stock valued at $9,070,000 after purchasing an additional 2,230 shares during the period. Institutional investors and hedge funds own 92.57% of the company’s stock.

American International Group Trading Up 1.4 %

Shares of AIG stock opened at $51.83 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.52. The stock has a market cap of $41.06 billion, a P/E ratio of 4.48 and a beta of 1.19. The stock has a 50 day simple moving average of $52.57 and a 200 day simple moving average of $57.62. American International Group, Inc. has a 1 year low of $48.40 and a 1 year high of $65.73.

American International Group (NYSE:AIGGet Rating) last released its earnings results on Tuesday, May 3rd. The insurance provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.06. American International Group had a return on equity of 7.11% and a net margin of 18.30%. The firm had revenue of $10.99 billion during the quarter, compared to analysts’ expectations of $11.43 billion. During the same period in the prior year, the company earned $1.05 earnings per share. On average, research analysts predict that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group announced that its board has authorized a stock repurchase program on Tuesday, May 3rd that allows the company to buyback $6.50 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AIG shares. The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 price objective on shares of American International Group in a research report on Tuesday, May 10th. StockNews.com lowered shares of American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 2nd. Finally, Barclays dropped their price objective on shares of American International Group from $63.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus target price of $65.57.

American International Group Company Profile

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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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