Ledyard National Bank Acquires Shares of 28,996 American International Group, Inc. $AIG

Ledyard National Bank bought a new position in shares of American International Group, Inc. (NYSE:AIG) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 28,996 shares of the insurance provider’s stock, valued at approximately $2,277,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vise Technologies Inc. acquired a new position in American International Group in the 2nd quarter worth about $858,000. Jupiter Asset Management Ltd. acquired a new stake in American International Group in the second quarter valued at approximately $6,127,000. Meeder Asset Management Inc. raised its stake in shares of American International Group by 88.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 58,314 shares of the insurance provider’s stock worth $4,580,000 after buying an additional 27,431 shares during the period. AlphaQuest LLC acquired a new position in shares of American International Group during the 3rd quarter worth approximately $2,724,000. Finally, Allstate Corp purchased a new position in shares of American International Group during the 3rd quarter valued at approximately $1,689,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on AIG. HSBC cut their price target on shares of American International Group from $91.00 to $86.00 and set a “buy” rating for the company in a report on Friday, January 16th. Royal Bank Of Canada initiated coverage on shares of American International Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price target for the company. Bank of America lowered their price objective on American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, January 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lifted their price target on American International Group from $91.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $87.42.

American International Group Stock Up 1.0%

NYSE AIG opened at $76.71 on Friday. The business’s fifty day simple moving average is $78.87 and its 200-day simple moving average is $78.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The firm has a market cap of $41.39 billion, a PE ratio of 13.95, a P/E/G ratio of 0.57 and a beta of 0.61. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.