Prana Capital Management LP Grows Stock Holdings in American International Group, Inc. (NYSE:AIG)

Prana Capital Management LP lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 280.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,888,072 shares of the insurance provider’s stock after acquiring an additional 1,391,859 shares during the period. American International Group makes up about 6.3% of Prana Capital Management LP’s portfolio, making the stock its largest holding. Prana Capital Management LP owned approximately 0.30% of American International Group worth $138,264,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in shares of American International Group during the third quarter worth $26,000. Y.D. More Investments Ltd acquired a new position in shares of American International Group during the second quarter worth $27,000. Fortitude Family Office LLC grew its stake in shares of American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares during the last quarter. True Wealth Design LLC bought a new position in American International Group during the 3rd quarter worth $29,000. Finally, Ashton Thomas Securities LLC acquired a new position in American International Group during the 3rd quarter worth about $46,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore ISI reduced their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. TD Cowen decreased their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. UBS Group lifted their price objective on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America upped their target price on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.80.

Insider Buying and Selling at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of AIG opened at $75.11 on Wednesday. American International Group, Inc. has a 52 week low of $64.81 and a 52 week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $75.88 and a two-hundred day moving average price of $75.40. The firm has a market capitalization of $46.85 billion, a P/E ratio of -22.16, a P/E/G ratio of 7.54 and a beta of 1.05.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the prior year, the firm posted $1.61 EPS. Equities analysts forecast that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.13%. American International Group’s dividend payout ratio is currently -47.20%.

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.