Bank of New York Mellon Corp Acquires 474,035 Shares of American International Group, Inc. $AIG

Bank of New York Mellon Corp grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 6.1% during the 1st quarter, HoldingsChannel reports. The fund owned 8,237,375 shares of the insurance provider’s stock after buying an additional 474,035 shares during the period. Bank of New York Mellon Corp’s holdings in American International Group were worth $619,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in AIG. Checchi Capital Advisers LLC raised its stake in shares of American International Group by 17.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,873 shares of the insurance provider’s stock valued at $442,000 after purchasing an additional 885 shares during the period. Hartford Funds Management Co LLC boosted its stake in American International Group by 3.6% in the 1st quarter. Hartford Funds Management Co LLC now owns 13,078 shares of the insurance provider’s stock worth $984,000 after purchasing an additional 452 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in American International Group by 21.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 42,366 shares of the insurance provider’s stock worth $3,188,000 after purchasing an additional 7,432 shares during the period. Chicago Partners Investment Group LLC grew its holdings in American International Group by 87.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 6,238 shares of the insurance provider’s stock valued at $474,000 after buying an additional 2,910 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in American International Group by 59.7% during the 1st quarter. Diversify Wealth Management LLC now owns 10,406 shares of the insurance provider’s stock valued at $768,000 after buying an additional 3,889 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 1.5%

Shares of American International Group stock opened at $77.91 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The firm has a market cap of $41.31 billion, a PE ratio of 13.74, a PEG ratio of 0.70 and a beta of 0.53. The company has a 50 day simple moving average of $76.34 and a two-hundred day simple moving average of $76.69.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the prior year, the firm earned $1.17 EPS. Analysts expect that American International Group, Inc. will post 8 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.6%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. American International Group’s dividend payout ratio (DPR) is presently 35.27%.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Citigroup boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. HSBC decreased their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Morgan Stanley cut their price target on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Finally, Barclays boosted their price target on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.00.

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.