Pallas Capital Advisors LLC Raises Holdings in American International Group, Inc. (NYSE:AIG)

Pallas Capital Advisors LLC raised its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 569.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,137 shares of the insurance provider's stock after purchasing an additional 26,486 shares during the period. Pallas Capital Advisors LLC's holdings in American International Group were worth $2,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new position in American International Group during the fourth quarter valued at $25,000. Asset Planning Inc bought a new position in American International Group during the fourth quarter valued at $26,000. Ameriflex Group Inc. bought a new position in American International Group during the fourth quarter valued at $29,000. BankPlus Trust Department bought a new position in American International Group during the fourth quarter valued at $36,000. Finally, Whipplewood Advisors LLC bought a new position in American International Group during the fourth quarter valued at $40,000. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AIG has been the subject of several recent research reports. HSBC upgraded American International Group from a "hold" rating to a "buy" rating and set a $93.00 price target for the company in a research report on Wednesday, March 5th. Barclays lifted their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on American International Group to $91.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Hsbc Global Res upgraded American International Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group lifted their price target on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, American International Group presently has an average rating of "Moderate Buy" and a consensus price target of $88.12.

American International Group Price Performance

AIG stock traded down $1.28 during mid-day trading on Friday, hitting $84.52. 3,429,725 shares of the stock were exchanged, compared to its average volume of 4,410,474. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The business has a fifty day moving average price of $82.69 and a 200 day moving average price of $78.81. The stock has a market capitalization of $48.71 billion, a price-to-earnings ratio of -40.63, a PEG ratio of 1.01 and a beta of 0.64.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the previous year, the company posted $1.25 EPS. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's payout ratio is -67.67%.

Insider Buying and Selling at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.