Prana Capital Management LP Raises Stock Holdings in American International Group, Inc. (NYSE:AIG)

Prana Capital Management LP boosted its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,915,870 shares of the insurance provider's stock after purchasing an additional 27,798 shares during the quarter. American International Group comprises 6.6% of Prana Capital Management LP's holdings, making the stock its biggest position. Prana Capital Management LP owned 0.31% of American International Group worth $139,475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. bought a new stake in American International Group during the 4th quarter worth about $25,000. Asset Planning Inc bought a new stake in American International Group during the 4th quarter worth about $26,000. BankPlus Trust Department bought a new stake in American International Group during the 4th quarter worth about $36,000. Whipplewood Advisors LLC bought a new stake in American International Group during the 4th quarter worth about $40,000. Finally, Colonial Trust Co SC raised its holdings in American International Group by 150.2% during the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock worth $54,000 after purchasing an additional 443 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Up 1.3%

NYSE:AIG traded up $1.11 during trading hours on Friday, reaching $84.34. 2,570,144 shares of the stock were exchanged, compared to its average volume of 4,435,962. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a 50 day moving average of $82.47 and a 200 day moving average of $77.73. The stock has a market cap of $48.60 billion, a PE ratio of -40.55, a PEG ratio of 1.01 and a beta of 0.69.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio is presently -67.67%.

Insider Activity

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. This trade represents a 68.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AIG. Barclays upped their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft upped their price target on American International Group to $91.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company upped their price target on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Hsbc Global Res raised American International Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their price target on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of "Moderate Buy" and an average price target of $87.88.

American International Group Company 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.