Gifford Fong Associates trimmed its position in American International Group, Inc. (NYSE:AIG) by 30.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,100 shares of the insurance provider’s stock after selling 8,516 shares during the period. Gifford Fong Associates’ holdings in American International Group were worth $883,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. TCI Wealth Advisors Inc. increased its position in American International Group by 100.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 549 shares of the insurance provider’s stock valued at $25,000 after buying an additional 275 shares in the last quarter. TD Ameritrade Investment Management LLC bought a new stake in American International Group in the 4th quarter valued at about $28,000. Grant Street Asset Management Inc. bought a new stake in American International Group in the 4th quarter valued at about $30,000. Wealthcare Advisory Partners LLC bought a new stake in American International Group during the 1st quarter worth approximately $31,000. Finally, Safeguard Investment Advisory Group LLC bought a new stake in American International Group during the 4th quarter worth approximately $32,000. 89.99% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on AIG shares. Citigroup boosted their price objective on American International Group from $43.00 to $48.00 in a report on Wednesday, March 31st. Zacks Investment Research downgraded American International Group from a “hold” rating to a “sell” rating and set a $45.00 target price on the stock. in a research note on Thursday, February 18th. William Blair restated a “market perform” rating on shares of American International Group in a research note on Monday, May 10th. Credit Suisse Group boosted their target price on American International Group from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, March 1st. Finally, Atlantic Securities upgraded American International Group from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Friday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. American International Group has a consensus rating of “Hold” and an average target price of $47.67.
Shares of NYSE:AIG traded up $0.41 during trading on Friday, hitting $51.98. 108,645 shares of the company were exchanged, compared to its average volume of 4,421,103. The firm has a market cap of $44.61 billion, a P/E ratio of -11.49, a PEG ratio of 1.19 and a beta of 1.35. The firm’s 50 day moving average is $49.65. American International Group, Inc. has a 52-week low of $25.57 and a 52-week high of $54.08. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.57.
American International Group (NYSE:AIG) last posted its earnings results on Wednesday, May 5th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.08. The firm had revenue of $10.62 billion for the quarter, compared to the consensus estimate of $10.56 billion. American International Group had a positive return on equity of 4.75% and a negative net margin of 8.73%. During the same quarter in the prior year, the business posted $0.12 earnings per share. On average, analysts anticipate that American International Group, Inc. will post 4.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 29th. Shareholders of record on Tuesday, June 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.46%. American International Group’s dividend payout ratio is currently 50.79%.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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