Lombard Odier Asset Management Switzerland SA increased its holdings in American International Group, Inc. (NYSE:AIG – Free Report) by 51.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,416 shares of the insurance provider’s stock after purchasing an additional 24,854 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in American International Group were worth $6,281,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. Geneos Wealth Management Inc. increased its stake in American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 129 shares in the last quarter. Westwood Holdings Group Inc. increased its position in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after buying an additional 130 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in American International Group by 17.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock worth $68,000 after buying an additional 131 shares during the period. Larson Financial Group LLC raised its stake in American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after buying an additional 140 shares during the period. Finally, One Wealth Capital Management LLC boosted its holdings in American International Group by 3.7% in the third quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock worth $315,000 after acquiring an additional 144 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AIG. JPMorgan Chase & Co. dropped their price objective on American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Citigroup increased their target price on shares of American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Cantor Fitzgerald lifted their target price on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. The Goldman Sachs Group decreased their price target on American International Group from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Finally, BMO Capital Markets lifted their price target on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and an average target price of $87.78.
American International Group Price Performance
NYSE AIG opened at $75.13 on Wednesday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a market capitalization of $39.84 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The business’s fifty day moving average is $76.05 and its 200 day moving average is $77.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.
American International Group (NYSE:AIG – Get Free Report) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter last year, the company earned $1.17 EPS. Sell-side analysts predict that American International Group, Inc. will post 7.99 earnings per share for the current year.
American International Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. American International Group’s payout ratio is currently 35.27%.
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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