Convergence Investment Partners LLC Takes Position in American International Group, Inc. $AIG

Convergence Investment Partners LLC acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,407 shares of the insurance provider’s stock, valued at approximately $1,489,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AustralianSuper Pty Ltd increased its holdings in shares of American International Group by 14.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,115,734 shares of the insurance provider’s stock valued at $95,451,000 after acquiring an additional 143,722 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of American International Group by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,052,920 shares of the insurance provider’s stock valued at $90,079,000 after acquiring an additional 6,553 shares in the last quarter. Berkeley Capital Partners LLC bought a new stake in shares of American International Group during the fourth quarter valued at approximately $1,001,000. Baader Bank Aktiengesellschaft bought a new stake in shares of American International Group during the fourth quarter valued at approximately $547,000. Finally, Navalign LLC bought a new stake in shares of American International Group during the fourth quarter valued at approximately $29,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.6%

Shares of NYSE:AIG opened at $76.15 on Friday. The company has a market capitalization of $40.37 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. 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 business has a fifty day moving average price of $76.24 and a two-hundred day moving average price of $77.67. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.46.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the company earned $1.17 EPS. Analysts forecast that American International Group, Inc. will post 7.95 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.50 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s dividend payout ratio is currently 31.75%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AIG shares. Keefe, Bruyette & Woods upped their price target on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Evercore decreased their price target on American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. HSBC upped their price target on American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Morgan Stanley decreased their price target on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Finally, Cantor Fitzgerald upped their price target on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.06.

American International Group Profile

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.