Dark Forest Capital Management LP Purchases 27,639 Shares of American International Group, Inc. $AIG

Key Points

• Dark Forest Capital Management LP significantly increased its holdings in American International Group (AIG) by 218.4%, now owning approximately $3.50 million worth of shares.
• AIG recently announced a quarterly dividend of $0.45 per share, representing an annualized yield of 2.2% and a payout ratio of 34.09%.
• The company reported $1.81 earnings per share for the latest quarter, exceeding expectations, despite revenue falling short of analyst estimates at $6.77 billion.

Dark Forest Capital Management LP lifted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 218.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,293 shares of the insurance provider's stock after purchasing an additional 27,639 shares during the quarter. Dark Forest Capital Management LP's holdings in American International Group were worth $3,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of American International Group in the 4th quarter worth approximately $29,000. Sachetta LLC boosted its position in shares of American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares in the last quarter. Hemington Wealth Management boosted its position in shares of American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after purchasing an additional 142 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of American International Group in the 1st quarter worth approximately $47,000. Finally, WPG Advisers LLC bought a new stake in shares of American International Group in the 1st quarter worth approximately $47,000. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG traded down $2.56 during midday trading on Friday, hitting $79.17. The company had a trading volume of 4,665,642 shares, compared to its average volume of 3,544,298. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $43.86 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.84 and a beta of 0.70. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a fifty day moving average of $80.86 and a two-hundred day moving average of $82.08.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the prior year, the business posted $1.16 EPS. On average, equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio is 34.09%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AIG. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Keefe, Bruyette & Woods lowered their price objective on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Morgan Stanley upped their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Citigroup started coverage on shares of American International Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $85.00 target price for the company. Finally, Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a research note on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.27.

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.