Equitable Trust Co. reduced its holdings in shares of American International Group Inc (NYSE:AIG) by 38.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,859 shares of the insurance provider’s stock after selling 4,983 shares during the quarter. Equitable Trust Co.’s holdings in American International Group were worth $309,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AIG. Moody National Bank Trust Division purchased a new position in American International Group in the fourth quarter valued at about $27,000. CNB Bank bought a new stake in shares of American International Group in the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC bought a new stake in shares of American International Group in the fourth quarter valued at approximately $39,000. Proficio Capital Partners LLC raised its position in shares of American International Group by 92.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,328 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 639 shares during the period. Finally, Stamos Capital Partners L.P. bought a new stake in shares of American International Group in the fourth quarter valued at approximately $75,000. Hedge funds and other institutional investors own 91.01% of the company’s stock.
American International Group stock traded up $0.07 during midday trading on Friday, reaching $46.04. 3,729,295 shares of the stock were exchanged, compared to its average volume of 3,683,242. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $40.04 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37. American International Group Inc has a 52 week low of $36.16 and a 52 week high of $56.79.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, March 14th. American International Group’s dividend payout ratio (DPR) is presently 109.40%.
American International Group announced that its board has authorized a share buyback program on Wednesday, February 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Several research firms have recently issued reports on AIG. Zacks Investment Research raised shares of American International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Bank of America reissued a “buy” rating and issued a $46.00 price target on shares of American International Group in a research report on Thursday, April 11th. Wells Fargo & Co reissued a “buy” rating and issued a $54.00 price target on shares of American International Group in a research report on Wednesday, February 13th. Credit Suisse Group began coverage on shares of American International Group in a research report on Tuesday, February 5th. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, ValuEngine lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $55.07.
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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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