SummitTX Capital L.P. Has $1.40 Million Stock Position in American International Group, Inc. $AIG

SummitTX Capital L.P. lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 70.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,545 shares of the insurance provider’s stock after acquiring an additional 7,634 shares during the quarter. SummitTX Capital L.P.’s holdings in American International Group were worth $1,396,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AIG. Modus Advisors LLC acquired a new stake in American International Group in the fourth quarter worth about $27,000. Navalign LLC acquired a new position in American International Group during the 4th quarter valued at about $29,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group during the 4th quarter valued at about $29,000. SHP Wealth Management bought a new position in shares of American International Group in the 4th quarter valued at about $34,000. Finally, CENTRAL TRUST Co boosted its stake in shares of American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. The Goldman Sachs Group raised their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. lifted their target price on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Cantor Fitzgerald upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $92.00 in a research report on Thursday, July 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $80.00 price target (down from $88.00) on shares of American International Group in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.22.

American International Group Stock Performance

Shares of AIG stock opened at $80.23 on Thursday. The stock has a market cap of $42.54 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.53. The stock has a 50-day moving average of $76.87 and a 200-day moving average of $76.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter last year, the firm earned $1.17 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.