Lee Danner & Bass Inc. Has $2.54 Million Stock Holdings in American International Group, Inc. $AIG

Lee Danner & Bass Inc. lifted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 194.2% in the first quarter, Holdings Channel.com reports. The fund owned 33,781 shares of the insurance provider’s stock after purchasing an additional 22,300 shares during the quarter. Lee Danner & Bass Inc.’s holdings in American International Group were worth $2,542,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB lifted its stake in American International Group by 129.9% during the fourth quarter. Nordea Investment Management AB now owns 136,069 shares of the insurance provider’s stock worth $11,695,000 after purchasing an additional 76,874 shares during the period. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of American International Group in the 3rd quarter valued at approximately $77,054,000. Cypress Wealth Services LLC acquired a new position in shares of American International Group in the 4th quarter worth approximately $1,269,000. Board of the Pension Protection Fund raised its holdings in shares of American International Group by 296.1% in the 4th quarter. Board of the Pension Protection Fund now owns 20,200 shares of the insurance provider’s stock worth $1,728,000 after buying an additional 15,100 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of American International Group by 20.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,932 shares of the insurance provider’s stock worth $7,608,000 after buying an additional 15,116 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIG has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Cantor Fitzgerald increased their price objective on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Barclays lifted their price objective on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. HSBC upped their target price on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods increased their target price on shares of American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.94.

American International Group Stock Down 0.1%

NYSE AIG opened at $79.33 on Friday. The stock’s 50 day simple moving average is $75.69 and its 200 day simple moving average is $77.19. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29. The firm has a market cap of $42.06 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.73 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.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 7.98 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. American International Group’s dividend payout ratio is 35.27%.

About American International Group

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.