Grove Bank & Trust Increases Stake in American International Group, Inc. (NYSE:AIG)

Grove Bank & Trust increased its stake in American International Group, Inc. (NYSE:AIG) by 14.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,660 shares of the insurance provider’s stock after buying an additional 470 shares during the period. Grove Bank & Trust’s holdings in American International Group were worth $318,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new position in shares of American International Group in the 4th quarter valued at $25,000. Ameriflex Group Inc. purchased a new position in shares of American International Group in the 4th quarter worth $29,000. BankPlus Trust Department acquired a new position in American International Group in the fourth quarter valued at $36,000. Whipplewood Advisors LLC acquired a new stake in American International Group during the fourth quarter worth about $40,000. Finally, NBC Securities Inc. purchased a new position in shares of American International Group in the 1st quarter worth about $47,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Christopher Flatt sold 46,182 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

American International Group Trading Down 1.4%

Shares of NYSE AIG opened at $84.21 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $83.01 and its two-hundred day moving average price is $78.99. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07. The stock has a market capitalization of $48.53 billion, a P/E ratio of -31.66, a PEG ratio of 0.93 and a beta of 0.64.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same period in the prior year, the company posted $1.25 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.45 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, June 13th. This represents a $1.80 annualized dividend and a yield of 2.14%. American International Group’s dividend payout ratio is -67.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AIG. UBS Group reduced their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group lifted their price target on shares of American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Evercore ISI raised their target price on shares of American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. Finally, Barclays upped their price target on shares of American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus price target of $88.12.

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.