Redwood Investment Management LLC Buys 50,751 Shares of American International Group, Inc. (NYSE:AIG)

Redwood Investment Management LLC boosted its position in shares of American International Group, Inc. (NYSE:AIG) by 259.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,282 shares of the insurance provider’s stock after purchasing an additional 50,751 shares during the period. American International Group comprises 0.5% of Redwood Investment Management LLC’s holdings, making the stock its 29th largest position. Redwood Investment Management LLC’s holdings in American International Group were worth $5,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in American International Group by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,920 shares of the insurance provider’s stock worth $2,997,000 after acquiring an additional 274 shares during the last quarter. Wedmont Private Capital lifted its position in shares of American International Group by 4.3% in the fourth quarter. Wedmont Private Capital now owns 13,018 shares of the insurance provider’s stock worth $918,000 after purchasing an additional 538 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in American International Group by 112.5% during the fourth quarter. Miracle Mile Advisors LLC now owns 7,970 shares of the insurance provider’s stock worth $580,000 after purchasing an additional 4,220 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in American International Group by 36.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,651 shares of the insurance provider’s stock valued at $339,000 after buying an additional 1,238 shares during the last quarter. Finally, Pines Wealth Management LLC acquired a new stake in shares of American International Group in the fourth quarter valued at about $207,000. 90.60% of the stock is currently owned by institutional investors.

Insider Activity at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president now owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

American International Group Stock Down 2.3%

AIG opened at $81.71 on Thursday. The stock has a fifty day moving average of $82.39 and a 200-day moving average of $77.63. The company has a market capitalization of $47.09 billion, a P/E ratio of -39.28, a P/E/G ratio of 1.01 and a beta of 0.69. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same period last year, the firm earned $1.25 earnings per share. On average, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from American International Group’s previous quarterly dividend of $0.40. American International Group’s payout ratio is -67.67%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AIG shares. Jefferies Financial Group boosted their price target on American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $91.00 target price (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. UBS Group cut their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Morgan Stanley lifted their price objective on shares of American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, BMO Capital Markets upped their target price on shares of American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.88.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.