American International Group, Inc. $AIG Stock Position Raised by Lee Danner & Bass Inc.

Key Points

• Lee Danner & Bass Inc. increased its AIG stake by 194.2% in the first quarter, ending with 33,781 shares valued at about $2.54 million.
• AIG reported strong quarterly earnings of $2.11 per share, beating analyst estimates, though revenue came in below expectations.
• The company raised its quarterly dividend to $0.50 per share from $0.45, implying an annualized yield of about 2.5%.

Lee Danner & Bass Inc. grew its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 194.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,781 shares of the insurance provider's stock after buying an additional 22,300 shares during the quarter. Lee Danner & Bass Inc.'s holdings in American International Group were worth $2,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in American International Group by 129.9% in 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 in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of American International Group in the third quarter worth about $77,054,000. Cypress Wealth Services LLC bought a new stake in shares of American International Group during the 4th quarter worth about $1,269,000. Board of the Pension Protection Fund boosted its stake in shares of American International Group by 296.1% during 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 acquiring an additional 15,100 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $7,608,000 after acquiring an additional 15,116 shares during the last quarter. Institutional investors own 90.60% of the company's stock.

American International Group Stock Down 0.1%

Shares of AIG opened at $79.33 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day simple moving average of $75.69 and a 200-day simple moving average of $77.19. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The firm has a market capitalization of $42.06 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.73 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same period last year, the business earned $1.17 earnings per share. On average, equities research analysts expect that American International Group, Inc. will post 7.98 earnings per share for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. This is a boost from American International Group's previous quarterly dividend of $0.45. American International Group's payout ratio is 35.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AIG shares. Cantor Fitzgerald raised their price objective on American International Group from $81.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of American International Group from $97.00 to $86.00 and set a "neutral" rating for the company in a report on Monday, April 20th. Finally, Barclays lifted their price objective on American International Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. One 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $87.94.

American International Group Company Profile

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.

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