Galvin Gaustad & Stein LLC Buys New Stake in American International Group, Inc. (NYSE:AIG)

Galvin Gaustad & Stein LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the insurance provider’s stock, valued at approximately $291,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of American International Group in the third quarter worth about $494,000. Artemis Investment Management LLP lifted its holdings in American International Group by 115.9% in the fourth quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after acquiring an additional 147,235 shares during the period. M&T Bank Corp boosted its position in American International Group by 329.0% in the 3rd quarter. M&T Bank Corp now owns 98,964 shares of the insurance provider’s stock worth $7,247,000 after purchasing an additional 75,894 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of American International Group by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,920 shares of the insurance provider’s stock worth $2,997,000 after purchasing an additional 274 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of American International Group by 9.3% during the 4th quarter. GAMMA Investing LLC now owns 11,118 shares of the insurance provider’s stock valued at $809,000 after purchasing an additional 950 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIG has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group raised their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and an average price target of $84.13.

American International Group Price Performance

AIG stock opened at $74.63 on Friday. American International Group, Inc. has a 1 year low of $67.53 and a 1 year high of $80.83. The firm has a market capitalization of $46.55 billion, a PE ratio of -22.01, a price-to-earnings-growth ratio of 5.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $73.86 and a 200-day simple moving average of $74.68.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.61 EPS. Equities research analysts anticipate that American International Group, Inc. will post 4.91 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.14%. American International Group’s payout ratio is -47.20%.

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.