RNC Capital Management LLC Makes New $1.46 Million Investment in American International Group, Inc. (NYSE:AIG)

RNC Capital Management LLC acquired a new position in American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,000 shares of the insurance provider’s stock, valued at approximately $1,456,000.

A number of other large investors have also added to or reduced their stakes in the company. Catalina Capital Group LLC boosted its holdings in shares of American International Group by 5.1% in the 4th quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock worth $222,000 after purchasing an additional 148 shares during the period. EagleClaw Capital Managment LLC boosted its holdings in shares of American International Group by 0.5% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock worth $2,225,000 after purchasing an additional 150 shares during the period. Independent Advisor Alliance boosted its holdings in shares of American International Group by 1.6% in the 3rd quarter. Independent Advisor Alliance now owns 10,393 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 161 shares during the period. Graypoint LLC boosted its holdings in shares of American International Group by 2.0% in the 3rd quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock worth $635,000 after purchasing an additional 167 shares during the period. Finally, Commerce Bank boosted its holdings in shares of American International Group by 1.0% in the 3rd quarter. Commerce Bank now owns 17,234 shares of the insurance provider’s stock worth $1,262,000 after purchasing an additional 172 shares during the period. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AIG shares. UBS Group boosted their price objective on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Bank of America boosted their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, American International Group presently has a consensus rating of “Hold” and a consensus price target of $84.13.

American International Group Trading Up 1.7 %

AIG opened at $74.60 on Friday. The firm has a market cap of $46.53 billion, a price-to-earnings ratio of -22.00, a PEG ratio of 5.80 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 12 month low of $67.96 and a 12 month high of $80.83. The stock has a fifty day moving average price of $73.54 and a 200-day moving average price of $74.50.

American International Group (NYSE:AIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the company posted $1.61 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 4.89 earnings per share for the current fiscal year.

American International Group Profile

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.