Sumitomo Mitsui DS Asset Management Company Ltd Has $7.34 Million Position in American International Group, Inc. (NYSE:AIG)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of American International Group, Inc. (NYSE:AIG) by 6.5% during the first quarter, HoldingsChannel.com reports. The firm owned 84,438 shares of the insurance provider’s stock after purchasing an additional 5,164 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American International Group were worth $7,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Ameriflex Group Inc. bought a new position in American International Group in the 4th quarter valued at approximately $29,000. NBC Securities Inc. bought a new position in shares of American International Group during the first quarter valued at $47,000. Colonial Trust Co SC lifted its holdings in shares of American International Group by 150.2% during the fourth quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 443 shares during the period. True Wealth Design LLC grew its stake in shares of American International Group by 159.6% in the fourth quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 640 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in American International Group by 359.9% in the first quarter. Versant Capital Management Inc now owns 1,113 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 871 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Price Performance

AIG stock opened at $82.36 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The company’s 50-day moving average is $83.74 and its 200-day moving average is $79.74. The stock has a market capitalization of $47.47 billion, a PE ratio of -30.96, a price-to-earnings-growth ratio of 0.93 and a beta of 0.63. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. Equities research analysts expect 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 was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.19%. American International Group’s dividend payout ratio is -67.67%.

Insider Buying and Selling at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company’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 sale, the executive vice president owned 21,400 shares in the company, valued at approximately $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on AIG. 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. Morgan Stanley increased their target price on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group increased their price objective on shares of American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Evercore ISI lifted their target price on shares of American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

About American International Group

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.