DNB Asset Management AS Grows Position in American International Group, Inc. $AIG

DNB Asset Management AS boosted its holdings in American International Group, Inc. (NYSE:AIG) by 109.0% in the 4th quarter, HoldingsChannel reports. The fund owned 227,725 shares of the insurance provider’s stock after acquiring an additional 118,743 shares during the quarter. DNB Asset Management AS’s holdings in American International Group were worth $19,482,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after acquiring an additional 130 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in shares of American International Group by 17.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 131 shares during the last quarter. Howard Capital Management Inc. increased its stake in shares of American International Group by 3.0% during the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock valued at $370,000 after acquiring an additional 138 shares during the last quarter. Finally, One Wealth Capital Management LLC increased its stake in shares of American International Group by 3.7% during the 3rd quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock valued at $315,000 after acquiring an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Citigroup upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. UBS Group increased their target price on shares of American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. dropped their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Evercore dropped their target price on shares of American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. One investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.06.

American International Group Stock Up 0.6%

AIG opened at $76.15 on Friday. The firm has a 50 day moving average price of $76.24 and a 200 day moving average price of $77.67. The company has a market cap of $40.37 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.73 and a beta of 0.53. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last posted its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping 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 net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the prior year, the company earned $1.17 EPS. Sell-side analysts expect that American International Group, Inc. will post 7.95 earnings per share for the current year.

American International Group Increases Dividend

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

American International Group Company 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.