Patten & Patten Inc. TN lowered its holdings in shares of American International Group Inc (NYSE:AIG) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,005 shares of the insurance provider’s stock after selling 200 shares during the period. Patten & Patten Inc. TN’s holdings in American International Group were worth $565,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in AIG. Pathstone Family Office LLC acquired a new position in American International Group during the second quarter worth about $28,000. Penserra Capital Management LLC acquired a new position in shares of American International Group in the third quarter valued at approximately $34,000. Cerebellum GP LLC raised its position in shares of American International Group by 145.2% in the third quarter. Cerebellum GP LLC now owns 591 shares of the insurance provider’s stock valued at $35,000 after buying an additional 350 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of American International Group in the third quarter valued at approximately $39,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of American International Group in the second quarter valued at approximately $46,000. Institutional investors own 91.10% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Evercore ISI assumed coverage on shares of American International Group in a research report on Thursday, October 17th. They issued an “in-line” rating and a $54.00 price objective for the company. ValuEngine lowered shares of American International Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. Wells Fargo & Co reissued a “buy” rating on shares of American International Group in a research report on Monday, December 9th. Finally, Barclays boosted their price objective on shares of American International Group from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $58.76.
American International Group stock opened at $52.62 on Tuesday. American International Group Inc has a 1 year low of $40.00 and a 1 year high of $58.66. The firm has a 50 day moving average price of $51.68 and a 200 day moving average price of $53.93. The company has a market cap of $45.26 billion, a price-to-earnings ratio of 44.97, a PEG ratio of 1.03 and a beta of 1.16. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26.
American International Group (NYSE:AIG) last released its earnings results on Friday, November 1st. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.43). American International Group had a net margin of 3.56% and a return on equity of 4.17%. The company had revenue of $11.99 billion during the quarter, compared to analysts’ expectations of $12.03 billion. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. Sell-side analysts predict that American International Group Inc will post 4.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Thursday, December 12th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.28 dividend on an annualized basis and a yield of 2.43%. American International Group’s payout ratio is 109.40%.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company’s General Insurance segment offers general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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