PNC Financial Services Group Inc. Has $17.71 Million Holdings in American International Group, Inc. $AIG

PNC Financial Services Group Inc. grew its position in American International Group, Inc. (NYSE:AIG) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,986 shares of the insurance provider’s stock after purchasing an additional 10,213 shares during the period. PNC Financial Services Group Inc.’s holdings in American International Group were worth $17,708,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. increased its position in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 130 shares during the last quarter. JFS Wealth Advisors LLC increased its position in American International Group by 17.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 131 shares during the last quarter. Howard Capital Management Inc. increased its position in American International Group by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 138 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in American International Group by 12.6% in the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 140 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AIG shares. UBS Group upped their target price on American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods upped their target price on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Mizuho upped their target price on American International Group from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley lowered their price objective on American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Wells Fargo & Company lowered their price objective on American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. One research 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 company. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and an average target price of $88.06.

American International Group Stock Performance

Shares of NYSE AIG opened at $77.03 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $40.84 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 0.72 and a beta of 0.53. The business’s 50-day simple moving average is $76.18 and its 200-day simple moving average is $77.64. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the firm posted $1.17 EPS. As a group, equities research analysts expect that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is currently 31.75%.

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.