Gabelli Funds LLC Has $5.93 Million Position in American International Group, Inc. $AIG

Gabelli Funds LLC reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,200 shares of the insurance provider’s stock after selling 2,500 shares during the quarter. Gabelli Funds LLC’s holdings in American International Group were worth $5,929,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec raised its stake in American International Group by 15.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,641,190 shares of the insurance provider’s stock valued at $142,685,000 after purchasing an additional 214,205 shares during the period. Bank of Hawaii acquired a new position in shares of American International Group in the first quarter worth $544,000. Synovus Financial Corp increased its stake in shares of American International Group by 6.6% in the first quarter. Synovus Financial Corp now owns 48,014 shares of the insurance provider’s stock worth $4,174,000 after acquiring an additional 2,965 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in shares of American International Group in the first quarter worth $2,094,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of American International Group by 22.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock worth $792,340,000 after acquiring an additional 1,694,290 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Down 0.7%

American International Group stock opened at $81.66 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $45.24 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.88 and a beta of 0.63. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The company’s fifty day moving average price is $81.34 and its two-hundred day moving average price is $81.81.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period in the prior year, the business posted $1.16 earnings per share. On average, analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 16th. American International Group’s dividend payout ratio is 34.09%.

Analyst Ratings Changes

AIG has been the topic of a number of research reports. Cfra Research raised shares of American International Group to a “moderate buy” rating in a research note on Monday, August 11th. William Blair raised shares of American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research note on Tuesday, August 12th. Wells Fargo & Company upped their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley upped their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.27.

American International Group 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.