Tobam Grows Stock Position in American International Group, Inc. $AIG

Tobam increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 110.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,919 shares of the insurance provider’s stock after purchasing an additional 1,006 shares during the period. Tobam’s holdings in American International Group were worth $164,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of American International Group during the fourth quarter worth approximately $1,091,000. Ballentine Partners LLC acquired a new position in American International Group during the 1st quarter worth approximately $229,000. CWM LLC increased its position in shares of American International Group by 146.9% in the 1st quarter. CWM LLC now owns 77,522 shares of the insurance provider’s stock valued at $6,740,000 after purchasing an additional 46,121 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of American International Group by 2.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,657 shares of the insurance provider’s stock valued at $1,535,000 after purchasing an additional 505 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of American International Group by 10.8% during the 1st quarter. Signaturefd LLC now owns 6,997 shares of the insurance provider’s stock worth $608,000 after purchasing an additional 684 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AIG shares. JPMorgan Chase & Co. raised their price target on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods dropped their price objective on American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Jefferies Financial Group cut their target price on American International Group from $99.00 to $96.00 in a research report on Friday, November 7th. Cantor Fitzgerald upgraded American International Group to a “hold” rating in a research note on Tuesday, August 12th. Finally, Evercore ISI upped their price target on American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.00.

American International Group Price Performance

Shares of NYSE AIG opened at $77.99 on Thursday. The stock has a market cap of $42.08 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.77 and a beta of 0.73. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The stock has a 50 day moving average of $78.88 and a two-hundred day moving average of $81.09. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, November 4th. The insurance provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company posted $1.23 EPS. On average, research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s dividend payout ratio is presently 32.73%.

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.