McElhenny Sheffield Capital Management LLC Buys Shares of 626,000 American International Group, Inc. $AIG

Key Points

• McElhenny Sheffield Capital Management LLC has acquired 626,000 shares of American International Group, valued at approximately $53.58 million, making it the firm's 9th largest investment position.
• American International Group recently announced a quarterly $0.45 dividend, resulting in a 2.1% yield, with a current payout ratio of 34.09%.
• Analysts have mixed opinions on AIG stock, with a consensus rating of "Moderate Buy" and an average target price of $88.94 as of recent evaluations.

McElhenny Sheffield Capital Management LLC bought a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 626,000 shares of the insurance provider's stock, valued at approximately $53,579,000. American International Group accounts for about 3.5% of McElhenny Sheffield Capital Management LLC's investment portfolio, making the stock its 9th largest position. McElhenny Sheffield Capital Management LLC owned 0.11% of American International Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC grew 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 buying an additional 249 shares during the last quarter. Barrett & Company Inc. purchased a new stake in American International Group during the 2nd quarter worth approximately $35,000. Hemington Wealth Management grew its position in American International Group by 42.8% during 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 during the last quarter. Ameritas Advisory Services LLC purchased a new stake in American International Group during the 2nd quarter worth approximately $42,000. Finally, WPG Advisers LLC purchased a new stake in American International Group during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on AIG shares. Evercore ISI lifted their price objective on shares of American International Group from $89.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, October 1st. Weiss Ratings restated a "buy (b)" rating on shares of American International Group in a research note on Wednesday. Citigroup began coverage on shares of American International Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price objective for the company. Keefe, Bruyette & Woods decreased their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.94.

American International Group Trading Down 0.0%

NYSE AIG opened at $84.01 on Thursday. The firm's 50-day moving average is $79.61 and its two-hundred day moving average is $81.70. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $46.54 billion, a P/E ratio of 15.91, a PEG ratio of 0.89 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. American International Group's dividend payout ratio is presently 34.09%.

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.

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