Hilltop Holdings Inc. Makes New Investment in American International Group, Inc. $AIG

Hilltop Holdings Inc. purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) during the first quarter, Holdings Channel.com reports. The firm purchased 8,903 shares of the insurance provider’s stock, valued at approximately $670,000.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after purchasing an additional 4,661,246 shares during the period. Franklin Resources Inc. lifted its holdings in shares of American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after buying an additional 1,846,979 shares during the period. Bank of New York Mellon Corp boosted its position in shares of American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after buying an additional 474,035 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of American International Group by 10.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock valued at $640,133,000 after buying an additional 731,802 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AIG. The Goldman Sachs Group increased their price objective on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. BMO Capital Markets increased their price target on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. HSBC lowered their price objective on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Bank of America cut their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $88.22.

American International Group Trading Up 0.0%

NYSE:AIG opened at $79.09 on Monday. The company has a market capitalization of $41.93 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.73 and a beta of 0.53. The stock’s 50 day moving average price is $76.74 and its 200 day moving average price is $76.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29.

American International Group (NYSE:AIG) last posted its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, research analysts forecast that American International Group, Inc. will post 7.97 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.50 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s payout ratio is presently 35.27%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.