Sit Investment Associates Inc. Increases Holdings in American International Group, Inc. (NYSE:AIG)

Sit Investment Associates Inc. increased its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,464 shares of the insurance provider's stock after purchasing an additional 9,470 shares during the quarter. Sit Investment Associates Inc.'s holdings in American International Group were worth $9,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new position in shares of American International Group during the fourth quarter valued at $13,422,000. Pitcairn Co. grew its position in American International Group by 2.2% during the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider's stock valued at $536,000 after buying an additional 158 shares during the period. World Investment Advisors purchased a new stake in American International Group in the fourth quarter worth about $421,000. May Hill Capital LLC bought a new stake in American International Group during the fourth quarter valued at about $222,000. Finally, Diametric Capital LP raised its stake in American International Group by 127.1% during the 4th quarter. Diametric Capital LP now owns 9,055 shares of the insurance provider's stock valued at $659,000 after purchasing an additional 5,067 shares during the period. 90.60% of the stock is owned by institutional investors.

Insider Transactions at American International Group

In related news, Director John G. Rice bought 10,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company's stock, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company dropped their price target on American International Group from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Thursday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $91.00 target price (up from $83.00) on shares of American International Group in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $98.00 to $94.00 and set an "outperform" rating for the company in a report on Wednesday. Barclays raised their price objective on American International Group from $90.00 to $98.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group boosted their target price on American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 1st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $87.59.

American International Group Trading Up 0.4 %

AIG traded up $0.37 during trading on Friday, reaching $81.72. The company had a trading volume of 1,035,738 shares, compared to its average volume of 4,445,863. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The business has a 50 day simple moving average of $80.22 and a 200-day simple moving average of $76.60. The stock has a market cap of $48.66 billion, a P/E ratio of -39.23, a PEG ratio of 1.01 and a beta of 0.63. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results 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 8.01% and a negative net margin of 4.25%. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 17th. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. American International Group's dividend payout ratio (DPR) is presently -76.92%.

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.