Goodwin Daniel L lifted its holdings in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 2.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,625 shares of the insurance provider’s stock after acquiring an additional 225 shares during the quarter. Goodwin Daniel L’s holdings in American International Group were worth $604,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co purchased a new stake in American International Group in the first quarter worth $27,000. Private Capital Group LLC increased its position in American International Group by 33.2% in the first quarter. Private Capital Group LLC now owns 1,320 shares of the insurance provider’s stock worth $83,000 after buying an additional 329 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in American International Group by 6.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,301 shares of the insurance provider’s stock worth $270,000 after buying an additional 243 shares during the last quarter. Sigma Planning Corp purchased a new stake in American International Group in the first quarter worth $245,000. Finally, Patton Fund Management Inc. purchased a new stake in American International Group in the first quarter worth $3,244,000. 92.57% of the stock is owned by institutional investors.
NYSE:AIG traded down $0.29 during trading hours on Friday, hitting $50.84. 29,689 shares of the company’s stock traded hands, compared to its average volume of 5,313,690. The firm has a market cap of $40.28 billion, a P/E ratio of 4.42, a P/E/G ratio of 1.02 and a beta of 1.24. American International Group, Inc. has a 52 week low of $44.54 and a 52 week high of $65.73. The business’s fifty day simple moving average is $56.61 and its two-hundred day simple moving average is $58.76. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.52.
American International Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 3rd that permits the company to buyback $6.50 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.52%. The ex-dividend date was Wednesday, June 15th. American International Group’s dividend payout ratio is 11.07%.
A number of analysts have issued reports on AIG shares. StockNews.com downgraded American International Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd. Barclays lifted their price target on American International Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $81.00 price target on shares of American International Group in a research report on Tuesday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, American International Group has an average rating of “Hold” and an average target price of $66.57.
American International Group Profile (Get Rating)
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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