Mitchell Mcleod Pugh & Williams Inc. Purchases 9,351 Shares of American International Group, Inc. $AIG

Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of American International Group, Inc. (NYSE:AIG) by 106.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,147 shares of the insurance provider’s stock after acquiring an additional 9,351 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in American International Group were worth $1,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Modus Advisors LLC bought a new stake in American International Group during the 4th quarter worth approximately $27,000. Navalign LLC bought a new stake in American International Group during the 4th quarter worth approximately $29,000. Aventura Private Wealth LLC bought a new stake in American International Group during the 4th quarter worth approximately $39,000. Jessup Wealth Management Inc bought a new position in shares of American International Group in the 4th quarter worth $40,000. Finally, JPL Wealth Management LLC bought a new position in shares of American International Group in the 3rd quarter worth $39,000. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

AIG stock opened at $75.02 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The firm’s fifty day moving average is $76.07 and its 200 day moving average is $77.40. The firm has a market cap of $39.78 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.68 and a beta of 0.52.

American International Group (NYSE:AIG) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $1.17 earnings per share. Research analysts predict that American International Group, Inc. will post 7.99 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.50 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is presently 31.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. HSBC increased their price target on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Morgan Stanley decreased their price target on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Wells Fargo & Company decreased their price target on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Barclays increased their price target on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $87.78.

About American International Group

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.