Miracle Mile Advisors LLC Has $580,000 Stake in American International Group, Inc. (NYSE:AIG)

Miracle Mile Advisors LLC lifted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 112.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,970 shares of the insurance provider’s stock after purchasing an additional 4,220 shares during the quarter. 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.

A number of other institutional investors have also made changes to their positions in AIG. Christopher J. Hasenberg Inc acquired a new position in American International Group in the third quarter valued at about $26,000. True Wealth Design LLC bought a new position in shares of American International Group in the third quarter worth about $29,000. Continuum Advisory LLC increased its position in American International Group by 60.7% during the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares in the last quarter. Fortitude Family Office LLC boosted its position in American International Group by 58.3% in the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after buying an additional 210 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of American International Group during the third quarter worth $46,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Price Performance

NYSE AIG opened at $73.14 on Thursday. The firm’s 50-day simple moving average is $74.02 and its two-hundred day simple moving average is $74.68. American International Group, Inc. has a 52 week low of $66.06 and a 52 week high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $45.62 billion, a PE ratio of -21.58, a price-to-earnings-growth ratio of 7.30 and a beta of 1.06.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the company posted $1.61 EPS. Research analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a $0.40 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. American International Group’s dividend payout ratio is currently -47.20%.

Analyst Ratings Changes

A number of equities analysts have issued reports on AIG shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $79.00 target price (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price objective on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Evercore ISI cut their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, American International Group presently has an average rating of “Hold” and a consensus price target of $84.13.

American International Group Company 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.