Pallas Capital Advisors LLC Increases Holdings in American International Group, Inc. (NYSE:AIG)

Pallas Capital Advisors LLC grew its holdings in American International Group, Inc. (NYSE:AIG) by 569.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,137 shares of the insurance provider’s stock after acquiring an additional 26,486 shares during the period. Pallas Capital Advisors LLC’s holdings in American International Group were worth $2,707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Duncker Streett & Co. Inc. bought a new stake in shares of American International Group in the fourth quarter worth about $25,000. Asset Planning Inc bought a new stake in shares of American International Group in the fourth quarter worth about $26,000. Ameriflex Group Inc. bought a new stake in shares of American International Group in the fourth quarter worth about $29,000. BankPlus Trust Department bought a new stake in shares of American International Group in the fourth quarter worth about $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of American International Group in the fourth quarter worth about $40,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

American International Group Stock Down 2.5%

American International Group stock opened at $85.19 on Tuesday. The business has a fifty day moving average of $82.45 and a two-hundred day moving average of $78.66. 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 firm has a market cap of $49.10 billion, a P/E ratio of -40.96, a P/E/G ratio of 1.01 and a beta of 0.64. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. This is an increase from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, June 13th. American International Group’s dividend payout ratio is presently -67.67%.

Wall Street Analysts Forecast Growth

AIG has been the topic of several research reports. Wells Fargo & Company lifted their target price on American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group lifted their target price on American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. BMO Capital Markets boosted their price objective on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on American International Group to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.12.

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.