Algebris UK Ltd Increases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Algebris UK Ltd raised its stake in American International Group, Inc. (NYSE:AIG) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,026 shares of the insurance provider’s stock after purchasing an additional 24,073 shares during the quarter. American International Group accounts for 3.1% of Algebris UK Ltd’s investment portfolio, making the stock its 14th biggest holding. Algebris UK Ltd’s holdings in American International Group were worth $12,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AIG. Wellington Management Group LLP grew its stake in shares of American International Group by 32.4% in the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after purchasing an additional 6,119,996 shares during the last quarter. Prana Capital Management LP lifted its holdings in shares of American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after buying an additional 1,391,859 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of American International Group in the 4th quarter valued at approximately $95,074,000. Swedbank AB lifted its holdings in shares of American International Group by 70.6% in the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock valued at $154,896,000 after buying an additional 880,625 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of American International Group by 9,790.9% in the 4th quarter. Proficio Capital Partners LLC now owns 690,185 shares of the insurance provider’s stock valued at $50,245,000 after buying an additional 683,207 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John G. Rice purchased 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $84.01 on Wednesday. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $84.99. The stock has a market cap of $49.85 billion, a price-to-earnings ratio of -40.39, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The business has a fifty day moving average of $76.71 and a 200-day moving average of $75.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, analysts predict that American International Group, Inc. will post 6.24 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, March 31st. Stockholders of record on Monday, March 17th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio is currently -76.92%.

Wall Street Analyst Weigh In

AIG has been the subject of several recent analyst reports. Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $79.00 price target (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. UBS Group reduced their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Finally, HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $84.31.

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.