D.A. Davidson & CO. Purchases 6,737 Shares of American International Group, Inc. $AIG

D.A. Davidson & CO. raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 4.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 157,752 shares of the insurance provider’s stock after purchasing an additional 6,737 shares during the quarter. D.A. Davidson & CO.’s holdings in American International Group were worth $11,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of American International Group during the 4th quarter worth approximately $636,782,000. Price T Rowe Associates Inc. MD boosted its holdings in American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares during the period. Franklin Resources Inc. grew its position in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after acquiring an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position 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 acquiring an additional 1,846,979 shares during the last quarter. Finally, Viking Global Investors LP purchased a new stake in American International Group in the second quarter worth $155,413,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 1.5%

Shares of NYSE AIG opened at $77.91 on Friday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The firm has a market cap of $41.31 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. The business has a fifty day simple moving average of $76.34 and a two-hundred day simple moving average of $76.69. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate 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 company earned $1.17 EPS. Analysts expect that American International Group, Inc. will post 8 earnings per share for the current fiscal year.

American International Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AIG. Cantor Fitzgerald upgraded American International Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $92.00 in a research report on Thursday, July 9th. Morgan Stanley cut their price target on shares of 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. JPMorgan Chase & Co. reduced their price target on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Mizuho lifted their price objective on shares of American International Group from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, BMO Capital Markets boosted their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, American International Group has a consensus rating of “Hold” and a consensus price target of $88.00.

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.