Artemis Investment Management LLP Has $24.65 Million Position in American International Group, Inc. (NYSE:AIG)

Artemis Investment Management LLP boosted its stake in American International Group, Inc. (NYSE:AIG) by 3.4% in the first quarter, HoldingsChannel reports. The firm owned 283,528 shares of the insurance provider’s stock after buying an additional 9,282 shares during the period. Artemis Investment Management LLP’s holdings in American International Group were worth $24,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Miracle Mile Advisors LLC raised its stake in American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider’s stock worth $704,000 after buying an additional 124 shares during the period. Western Pacific Wealth Management LP lifted its holdings in shares of American International Group by 2.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 125 shares in the last quarter. Snowden Capital Advisors LLC lifted its holdings in shares of American International Group by 1.4% in the 4th quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider’s stock worth $769,000 after purchasing an additional 146 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its position in American International Group by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider’s stock valued at $641,000 after purchasing an additional 152 shares during the period. Finally, Pitcairn Co. increased its stake in American International Group by 2.2% during the 4th quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock valued at $536,000 after purchasing an additional 158 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Buying and Selling at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the sale, the executive vice president now directly owns 21,400 shares in the company, valued at approximately $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Evercore ISI raised their price target on shares of American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. Barclays boosted their price objective on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $91.00 target price (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price target on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Nine 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.12.

American International Group Stock Performance

NYSE:AIG opened at $85.10 on Friday. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The business has a fifty day simple moving average of $83.45 and a two-hundred day simple moving average of $79.42. The company has a market capitalization of $49.05 billion, a P/E ratio of -31.99, a P/E/G ratio of 0.91 and a beta of 0.64.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. This is a positive change from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, June 13th. American International Group’s payout ratio is currently -67.67%.

American International Group 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.