Redwood Investment Management LLC Has $5.12 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Redwood Investment Management LLC boosted its stake in American International Group, Inc. (NYSE:AIG) by 259.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 70,282 shares of the insurance provider’s stock after acquiring an additional 50,751 shares during the quarter. American International Group makes up about 0.5% of Redwood Investment Management LLC’s investment portfolio, making the stock its 29th biggest position. Redwood Investment Management LLC’s holdings in American International Group were worth $5,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Artemis Investment Management LLP grew its holdings in American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after acquiring an additional 147,235 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in shares of American International Group by 5.2% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock worth $5,155,000 after purchasing an additional 3,490 shares during the period. Jones Financial Companies Lllp grew its stake in shares of American International Group by 54.3% in the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 4,468 shares during the last quarter. Merit Financial Group LLC acquired a new stake in American International Group in the fourth quarter valued at $1,260,000. Finally, Williams & Novak LLC bought a new position in American International Group during the 4th quarter worth $279,000. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 2.3%

NYSE:AIG opened at $81.71 on Thursday. The firm has a fifty day simple moving average of $82.39 and a two-hundred day simple moving average of $77.63. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The stock has a market capitalization of $47.09 billion, a price-to-earnings ratio of -39.28, a PEG ratio of 1.01 and a beta of 0.69. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last issued 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 for 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 period in the prior year, the firm earned $1.25 earnings per share. Analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. This is an increase from American International Group’s previous quarterly dividend of $0.40. American International Group’s payout ratio is -67.67%.

Insiders Place Their Bets

In related news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president now owns 21,400 shares of the company’s stock, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on American International Group to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. Barclays lifted their price objective on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods increased their target price on shares of American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. The Goldman Sachs Group raised their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Finally, HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.88.

About American International Group

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.