May Hill Capital LLC Acquires New Shares in American International Group, Inc. (NYSE:AIG)

May Hill Capital LLC bought a new position in American International Group, Inc. (NYSE:AIG) during the 4th quarter, HoldingsChannel.com reports. The fund bought 3,045 shares of the insurance provider’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. Norges Bank bought a new stake in shares of American International Group in the 4th quarter valued at approximately $718,013,000. Wellington Management Group LLP grew its position in American International Group by 32.4% in 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 acquiring an additional 6,119,996 shares in the last quarter. Prana Capital Management LP increased 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 purchasing an additional 1,391,859 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of American International Group during the 4th quarter valued at $95,074,000. Finally, Franklin Resources Inc. lifted its stake in shares of American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after purchasing an additional 1,284,354 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American International Group news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their target price on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Morgan Stanley boosted their target price on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $90.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Evercore ISI lifted their target price on shares of American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

American International Group Stock Performance

Shares of NYSE AIG opened at $86.69 on Wednesday. American International Group, Inc. has a one year low of $69.00 and a one year high of $87.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $79.00 and a 200 day simple moving average of $76.15. The firm has a market capitalization of $51.43 billion, a price-to-earnings ratio of -41.68, a PEG ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last released 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 positive return on equity of 8.01% and a negative net margin of 4.25%. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, March 17th. American International Group’s payout ratio is -76.92%.

American International Group Company 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.