ProVise Management Group LLC raised its stake in shares of American International Group Inc (NYSE:AIG) by 24.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,465 shares of the insurance provider’s stock after acquiring an additional 1,445 shares during the quarter. ProVise Management Group LLC’s holdings in American International Group were worth $321,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its holdings in shares of American International Group by 4,353.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,224,577 shares of the insurance provider’s stock valued at $336,000 after buying an additional 12,927,638 shares during the last quarter. Norges Bank bought a new stake in American International Group during the 4th quarter worth about $354,739,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in American International Group by 49.9% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 22,573,630 shares of the insurance provider’s stock worth $889,627,000 after purchasing an additional 7,516,503 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in American International Group during the 4th quarter worth about $291,537,000. Finally, Macquarie Group Ltd. raised its holdings in American International Group by 24.8% during the 4th quarter. Macquarie Group Ltd. now owns 16,690,982 shares of the insurance provider’s stock worth $657,792,000 after purchasing an additional 3,312,810 shares during the last quarter. 90.06% of the stock is owned by institutional investors.
NYSE AIG traded up $0.23 during trading on Friday, hitting $53.28. The stock had a trading volume of 5,214,796 shares, compared to its average volume of 4,455,774. American International Group Inc has a 12 month low of $36.16 and a 12 month high of $56.36. The firm has a market cap of $46.14 billion, a P/E ratio of 45.54, a PEG ratio of 0.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.27 and a quick ratio of 0.27. The company has a 50-day moving average price of $52.62.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, June 13th. American International Group’s dividend payout ratio (DPR) is presently 109.40%.
In other American International Group news, Director Therese M. Vaughan purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $51.71 per share, for a total transaction of $51,710.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $51,710. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on AIG. Wells Fargo & Co boosted their price objective on American International Group from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Bank of America restated a “buy” rating and set a $56.00 target price (up from $50.00) on shares of American International Group in a research report on Tuesday, May 7th. Deutsche Bank lowered American International Group from a “buy” rating to a “hold” rating and set a $53.35 target price for the company. in a research report on Wednesday, June 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded American International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley boosted their price objective on American International Group from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $54.85.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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