Havemeyer Place LP Takes $2.22 Million Position in American International Group, Inc. $AIG

Key Points

• Havemeyer Place LP disclosed a new stake in American International Group, buying 25,982 shares worth about $2.22 million in the fourth quarter.
• Institutional interest in AIG remains strong, with 90.60% of the stock owned by hedge funds and other institutional investors.
• AIG recently beat earnings expectations with $2.11 EPS versus $1.89 estimated, and it also raised its quarterly dividend to $0.50 per share from $0.45.

Havemeyer Place LP bought a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,982 shares of the insurance provider's stock, valued at approximately $2,223,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in shares of American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider's stock valued at $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider's stock valued at $396,000 after purchasing an additional 130 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of American International Group by 17.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider's stock valued at $68,000 after purchasing an additional 131 shares during the last quarter. Larson Financial Group LLC raised its stake in American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider's stock valued at $107,000 after acquiring an additional 140 shares during the last quarter. Finally, One Wealth Capital Management LLC raised its stake in American International Group by 3.7% during the 3rd quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider's stock valued at $315,000 after acquiring an additional 144 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AIG has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on American International Group from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Morgan Stanley reduced their price objective on American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Cantor Fitzgerald upped 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. JPMorgan Chase & Co. reduced 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. Finally, BMO Capital Markets upped their price objective on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $88.06.

American International Group Stock Performance

Shares of AIG stock opened at $75.51 on Friday. The company has a market cap of $40.03 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The stock has a 50 day simple moving average of $76.04 and a 200-day simple moving average of $77.44. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG - Get Free Report) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.17 EPS. On average, equities analysts forecast that American International Group, Inc. will post 7.99 EPS for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.50 per share. This is a positive change from American International Group's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. American International Group's dividend payout ratio (DPR) is currently 31.75%.

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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