Poehling Capital Management INC. grew its holdings in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 111.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,038 shares of the insurance provider’s stock after purchasing an additional 33,282 shares during the period. Poehling Capital Management INC.’s holdings in American International Group were worth $4,744,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Modus Advisors LLC acquired a new stake in shares of American International Group in the 4th quarter worth approximately $27,000. Navalign LLC acquired a new position in American International Group during the fourth quarter worth $29,000. Mcguire Capital Advisors Inc. purchased a new stake in American International Group during the fourth quarter worth $29,000. SHP Wealth Management purchased a new stake in American International Group during the fourth quarter worth $34,000. Finally, CENTRAL TRUST Co grew its holdings in American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 151 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on AIG shares. Wells Fargo & Company cut their price objective on American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Barclays upped their target price on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Citigroup boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Weiss Ratings lowered shares of American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $87.78.
American International Group Trading Up 0.8%
NYSE AIG opened at $75.47 on Friday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a 50-day moving average of $75.77 and a 200-day moving average of $77.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $40.01 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.69 and a beta of 0.52.
American International Group (NYSE:AIG – Get Free Report) last released its earnings results 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. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same period last year, the company earned $1.17 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 7.98 earnings per share for the current year.
American International Group Increases Dividend
The company also recently declared 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 dividend on an annualized basis and a yield of 2.7%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s dividend payout ratio (DPR) is presently 35.27%.
About American International Group
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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