Gibbs Wealth Management Buys 13,135 Shares of American International Group, Inc. $AIG

Gibbs Wealth Management increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 147.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,026 shares of the insurance provider’s stock after acquiring an additional 13,135 shares during the period. Gibbs Wealth Management’s holdings in American International Group were worth $1,657,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of American International Group by 39.8% in the fourth 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 buying an additional 4,661,246 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after buying an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after buying an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after acquiring an additional 474,035 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in 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 acquiring an additional 731,802 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AIG. UBS Group raised their target price on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. The Goldman Sachs Group upped their price target on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Morgan Stanley lowered their price objective on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Finally, Barclays upped their target price on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $88.22.

American International Group Trading Up 0.0%

Shares of American International Group stock opened at $78.26 on Friday. The firm has a market capitalization of $41.49 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The company’s fifty day moving average price is $76.68 and its two-hundred day moving average price is $76.47. 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 released its quarterly earnings data 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 company had revenue of $6.65 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.17 EPS. On average, analysts expect that American International Group, Inc. will post 7.97 EPS for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $0.50 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, June 15th. American International Group’s dividend payout ratio is 35.27%.

About American International Group

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.