American International Group, Inc. (NYSE:AIG) Stake Boosted by Wedmont Private Capital

Wedmont Private Capital grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,438 shares of the insurance provider’s stock after purchasing an additional 420 shares during the quarter. Wedmont Private Capital’s holdings in American International Group were worth $1,102,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Snowden Capital Advisors LLC grew its holdings in shares of American International Group by 1.4% during the fourth quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider’s stock valued at $769,000 after purchasing an additional 146 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of American International Group by 1.8% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider’s stock valued at $641,000 after purchasing an additional 152 shares during the last quarter. Pitcairn Co. grew its holdings in shares of American International Group by 2.2% during the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock valued at $536,000 after purchasing an additional 158 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in shares of American International Group by 1.0% during the fourth quarter. Integrated Advisors Network LLC now owns 16,316 shares of the insurance provider’s stock valued at $1,188,000 after purchasing an additional 161 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its holdings in shares of American International Group by 0.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 19,737 shares of the insurance provider’s stock valued at $1,437,000 after purchasing an additional 169 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the 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 sale, the executive vice president now owns 21,400 shares in the company, valued at approximately $1,781,764. This represents a 68.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed 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. Deutsche Bank Aktiengesellschaft increased their price objective on American International Group to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. The Goldman Sachs Group increased their price objective on American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Finally, HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, March 5th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

American International Group Stock Performance

AIG opened at $87.42 on Monday. The company has a market capitalization of $50.38 billion, a price-to-earnings ratio of -42.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The business has a 50 day moving average price of $82.50 and a two-hundred day moving average price of $78.60.

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

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, June 13th. This is an increase from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio is -67.67%.

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.