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

Essex Financial Services Inc. lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,975 shares of the insurance provider’s stock after buying an additional 219 shares during the period. Essex Financial Services Inc.’s holdings in American International Group were worth $289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of American International Group during the third quarter worth about $29,000. Fortitude Family Office LLC boosted its position in shares of American International Group by 58.3% during the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock worth $41,000 after buying an additional 210 shares during the period. Continuum Advisory LLC boosted its position in shares of American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after buying an additional 207 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of American International Group during the third quarter worth about $46,000. Finally, NBC Securities Inc. boosted its position in shares of American International Group by 241.6% during the third quarter. NBC Securities Inc. now owns 673 shares of the insurance provider’s stock worth $49,000 after buying an additional 476 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Keefe, Bruyette & Woods dropped their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Wells Fargo & Company upped their target price on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, American International Group presently has a consensus rating of “Hold” and an average price target of $84.13.

American International Group Price Performance

Shares of NYSE AIG opened at $76.36 on Friday. The firm has a market cap of $47.63 billion, a P/E ratio of -22.53, a price-to-earnings-growth ratio of 5.87 and a beta of 1.05. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $68.04 and a 1-year high of $80.83. The business’s 50 day moving average is $73.46 and its 200-day moving average is $74.48.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share 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%. Equities research analysts predict that American International Group, Inc. will post 4.89 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend 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 currently -47.20%.

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.