PNC Financial Services Group Inc. boosted its position in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,986 shares of the insurance provider’s stock after buying an additional 10,213 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American International Group were worth $17,708,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of American International Group by 11.6% during the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after purchasing an additional 7,117,583 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after purchasing an additional 12,645,616 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after purchasing an additional 1,899,203 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after purchasing an additional 1,846,979 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Morgan Stanley reduced their target price on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Citigroup upped their target price on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Barclays upped their target price on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, UBS Group upped their target price on American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $88.06.
American International Group Stock Down 2.0%
Shares of American International Group stock opened at $77.03 on Friday. The stock has a 50-day moving average price of $76.18 and a 200 day moving average price of $77.64. The company has a market cap of $40.84 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.72 and a beta of 0.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.46.
American International Group (NYSE:AIG – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period in the prior year, the business earned $1.17 EPS. As a group, analysts expect that American International Group, Inc. will post 7.97 EPS for the current fiscal year.
American International Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 2.6%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio (DPR) is currently 31.75%.
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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