Financiere des Professionnels Fonds d investissement inc. Purchases New Stake in American International Group, Inc. $AIG

Key Points

• Financiere des Professionnels Fonds d investissement inc. opened a new position in American International Group in the first quarter, buying 26,234 shares valued at about $1.97 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 90.60% of AIG; several large firms also increased their stakes during recent quarters.
• AIG recently raised its quarterly dividend to $0.50 per share and beat earnings expectations, though revenue came in below estimates. The stock was up 3.1% and analysts currently have a consensus Hold rating with a target price of $88.00.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,234 shares of the insurance provider's stock, valued at approximately $1,974,000.

Several other institutional investors and hedge funds also recently modified their holdings of AIG. Price T Rowe Associates Inc. MD boosted its holdings in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares during the period. Franklin Resources Inc. lifted its position in shares of American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock worth $1,336,147,000 after purchasing an additional 4,210,363 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock worth $805,529,000 after purchasing an additional 1,846,979 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock valued at $619,862,000 after purchasing an additional 474,035 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of American International Group by 10.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider's stock valued at $640,133,000 after purchasing an additional 731,802 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

AIG has been the topic of several analyst reports. Weiss Ratings raised shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. BMO Capital Markets raised their target price on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Citigroup lifted their target price on American International Group from $85.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Morgan Stanley reduced their price target on American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. lowered their price objective on American International Group from $97.00 to $86.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. 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. Based on data from MarketBeat.com, American International Group has a consensus rating of "Hold" and a consensus target price of $88.00.

American International Group Stock Up 3.1%

Shares of American International Group stock opened at $80.43 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm has a market cap of $42.65 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.71 and a beta of 0.53. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The business has a 50-day moving average price of $76.42 and a 200 day moving average price of $76.72.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the firm posted $1.17 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 8 earnings per share for the current fiscal year.

American International Group Increases Dividend

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

American International Group 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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