Pallas Capital Advisors LLC Has $2.95 Million Holdings in American International Group, Inc. $AIG

Key Points

• Pallas Capital Advisors LLC increased its stake in American International Group (AIG) by 10.7% during the second quarter, bringing its total holdings to 34,467 shares worth approximately $2.95 million.
• AIG's recent quarterly earnings report showed an EPS of $1.81, exceeding analyst expectations, despite revenue falling short at $6.77 billion compared to expectations of $6.81 billion.
• The company declared a quarterly dividend of $0.45 to be paid on September 30th, reflecting a 2.3% yield and a dividend payout ratio of 34.09%.

Pallas Capital Advisors LLC raised its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,467 shares of the insurance provider's stock after buying an additional 3,330 shares during the quarter. Pallas Capital Advisors LLC's holdings in American International Group were worth $2,950,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Pinnacle Associates Ltd. increased its holdings in shares of American International Group by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after purchasing an additional 122 shares during the period. Miracle Mile Advisors LLC grew its holdings in American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock valued at $704,000 after purchasing an additional 124 shares during the last quarter. Western Pacific Wealth Management LP lifted its position in shares of American International Group by 2.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after purchasing an additional 125 shares during the period. Aaron Wealth Advisors LLC lifted its position in American International Group by 2.4% during the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider's stock valued at $468,000 after acquiring an additional 126 shares during the last quarter. Finally, Montag A & Associates Inc. raised its holdings in shares of American International Group by 0.7% in the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after buying an additional 130 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

NYSE AIG traded down $1.06 during trading hours on Friday, hitting $76.97. 13,509,145 shares of the stock were exchanged, compared to its average volume of 4,383,775. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $79.77 and a 200 day moving average of $81.96. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a market cap of $42.64 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 0.82 and a beta of 0.70.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter last year, the business earned $1.16 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group's dividend payout ratio (DPR) is currently 34.09%.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of recent analyst reports. Citigroup assumed coverage on shares of American International Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective on the stock. Cfra Research raised shares of American International Group to a "moderate buy" rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research report on Monday, September 15th. 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 report on Tuesday, August 12th. Finally, William Blair raised shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, American International Group presently has a consensus 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.