Miracle Mile Advisors LLC Acquires 4,220 Shares of American International Group, Inc. (NYSE:AIG)

Miracle Mile Advisors LLC grew its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 112.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,970 shares of the insurance provider's stock after acquiring an additional 4,220 shares during the period. Miracle Mile Advisors LLC's holdings in American International Group were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AIG. Massachusetts Financial Services Co. MA increased its position in American International Group by 6.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider's stock worth $233,743,000 after buying an additional 198,889 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in American International Group in the 2nd quarter worth approximately $334,000. Renaissance Technologies LLC bought a new stake in American International Group during the 2nd quarter worth approximately $20,123,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in American International Group by 9.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,184 shares of the insurance provider's stock valued at $830,000 after purchasing an additional 954 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of American International Group by 7.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 87,204 shares of the insurance provider's stock worth $6,424,000 after purchasing an additional 6,241 shares during the period. Institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on AIG shares. StockNews.com upgraded shares of American International Group from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. UBS Group lifted their target price on American International Group from $84.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Evercore ISI dropped their price target on American International Group from $79.00 to $78.00 and set an "in-line" rating for the company in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of American International Group from $89.00 to $83.00 and set an "overweight" rating for the company in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $84.13.

American International Group Trading Up 2.1 %

Shares of NYSE:AIG traded up $1.55 during trading on Thursday, hitting $74.62. The company had a trading volume of 4,627,417 shares, compared to its average volume of 4,386,562. The stock has a market cap of $46.54 billion, a price-to-earnings ratio of -22.01, a price-to-earnings-growth ratio of 5.51 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The company has a fifty day simple moving average of $73.94 and a two-hundred day simple moving average of $74.67. American International Group, Inc. has a one year low of $66.06 and a one year high of $80.83.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company earned $1.61 earnings per share. As a group, equities analysts forecast that American International Group, Inc. will post 4.91 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. American International Group's dividend payout ratio is presently -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.