Sitrin Capital Management LLC Raises Stake in American International Group, Inc. (NYSE:AIG)

Sitrin Capital Management LLC increased its stake in American International Group, Inc. (NYSE:AIGFree Report) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 91,686 shares of the insurance provider’s stock after acquiring an additional 623 shares during the quarter. American International Group accounts for 3.4% of Sitrin Capital Management LLC’s portfolio, making the stock its 11th largest position. Sitrin Capital Management LLC’s holdings in American International Group were worth $6,675,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after purchasing an additional 6,119,996 shares in the last quarter. Prana Capital Management LP raised its stake in shares of American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after buying an additional 1,391,859 shares during the last quarter. Swedbank AB boosted its position 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 worth $154,896,000 after buying an additional 880,625 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after acquiring an additional 722,237 shares during the last quarter. Finally, Barclays PLC grew its stake in American International Group by 24.7% in the 3rd quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock valued at $201,286,000 after acquiring an additional 544,110 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

AIG opened at $79.00 on Wednesday. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50 day simple moving average is $73.97 and its 200 day simple moving average is $74.63. The stock has a market capitalization of $46.88 billion, a PE ratio of -37.98, a P/E/G ratio of 1.01 and a beta of 1.05.

American International Group (NYSE:AIGGet Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share 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, sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 2.03%. American International Group’s dividend payout ratio is presently -76.92%.

Insider Transactions at American International Group

In other American International Group news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was bought 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 directly owns 10,000 shares of the company’s stock, 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.

Analysts Set New Price Targets

AIG has been the topic of several recent research reports. Morgan Stanley upped their price target on shares of American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $79.00 price target (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.94.

View Our Latest Stock Analysis on AIG

American International Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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