Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) during the fourth quarter, Holdings Channel reports. The firm acquired 16,660 shares of the insurance provider’s stock, valued at approximately $1,425,000.
A number of other hedge funds have also made changes to their positions in AIG. Westfuller Advisors LLC acquired a new position in shares of American International Group during the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp increased its stake in shares of American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 355 shares during the period. Navalign LLC acquired a new position in shares of American International Group during the fourth quarter valued at approximately $29,000. Aventura Private Wealth LLC acquired a new position in shares of American International Group during the fourth quarter valued at approximately $39,000. Finally, JPL Wealth Management LLC acquired a new position in shares of American International Group during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
American International Group Trading Up 0.8%
American International Group stock opened at $78.68 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $41.72 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.74 and a beta of 0.53. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.46. The firm’s 50 day moving average price is $76.19 and its two-hundred day moving average price is $77.65.
American International Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is presently 31.75%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on AIG shares. Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. 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 research report on Wednesday, May 6th. BMO Capital Markets lifted their price target on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. 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 research report on Monday, April 20th. Finally, UBS Group lifted their price target on shares of American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $88.06.
Get Our Latest Stock Analysis on American International Group
American International Group Company Profile
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.
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