American International Group, Inc. (NYSE:AIG) Stake Increased by Wedmont Private Capital

Wedmont Private Capital grew its holdings in American International Group, Inc. (NYSE:AIG) by 3.2% in the first quarter, Holdings Channel.com reports. The firm owned 13,438 shares of the insurance provider’s stock after purchasing an additional 420 shares during the period. Wedmont Private Capital’s holdings in American International Group were worth $1,102,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new stake in shares of American International Group in the fourth quarter valued at $25,000. Asset Planning Inc purchased a new stake in shares of American International Group in the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new stake in shares of American International Group in the fourth quarter valued at $29,000. BankPlus Trust Department purchased a new stake in shares of American International Group in the fourth quarter valued at $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of American International Group in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of research reports. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. BMO Capital Markets upped their price target on shares of 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. The Goldman Sachs Group upped their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods upped their price target on shares of American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.12.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

American International Group Price Performance

NYSE AIG opened at $87.42 on Monday. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The stock’s 50-day moving average is $82.50 and its two-hundred day moving average is $78.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $50.38 billion, a P/E ratio of -42.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64.

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, beating the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same period last year, the company earned $1.25 earnings per share. On average, analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.45 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, June 13th. American International Group’s dividend payout ratio (DPR) is currently -67.67%.

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.