American International Group, Inc. (NYSE:AIG) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in American International Group (AIG) by 5.4% in the first quarter, now owning 115,129 shares worth approximately $10.01 million.
• AIG recently announced a $0.45 quarterly dividend, with an annualized rate of $1.80 and a yield of 2.3%, to be paid on September 30th.
• The company's stock has an average target price of $88.33 according to market analysts, with eight buy ratings and a "Moderate Buy" average rating.

Townsquare Capital LLC lifted its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,129 shares of the insurance provider's stock after acquiring an additional 5,899 shares during the period. Townsquare Capital LLC's holdings in American International Group were worth $10,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in American International Group in the fourth quarter worth approximately $29,000. Sachetta LLC boosted its holdings in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares during the last quarter. Hemington Wealth Management boosted its holdings in American International Group by 42.8% in the first 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. NBC Securities Inc. purchased a new stake in American International Group in the first quarter worth approximately $47,000. Finally, Colonial Trust Co SC boosted its holdings in American International Group by 150.2% in the fourth quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock worth $54,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 90.60% of the company's stock.

American International Group Trading Up 1.7%

American International Group stock traded up $1.30 during trading hours on Wednesday, hitting $79.78. The company had a trading volume of 1,457,137 shares, compared to its average volume of 4,568,161. The firm has a market cap of $44.20 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company has a 50-day moving average price of $82.15 and a two-hundred day moving average price of $81.26.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during 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 in the previous year, the business posted $1.16 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's payout ratio is 34.09%.

Analyst Ratings Changes

AIG has been the topic of several research reports. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley lifted their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Barclays lifted their price target on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday. Finally, Wells Fargo & Company raised their price objective on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.75.

About American International Group

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.