Signet Financial Management LLC Raises Position in American International Group, Inc. (NYSE:AIG)

Signet Financial Management LLC lifted its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,745 shares of the insurance provider’s stock after purchasing an additional 250 shares during the period. Signet Financial Management LLC’s holdings in American International Group were worth $684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of American International Group by 0.6% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock valued at $1,694,000 after acquiring an additional 154 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of American International Group by 0.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock valued at $1,257,000 after buying an additional 157 shares during the period. Meeder Advisory Services Inc. increased its position in shares of American International Group by 1.3% during the third quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after buying an additional 162 shares during the period. Lindbrook Capital LLC increased its position in shares of American International Group by 2.7% during the fourth quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock valued at $458,000 after buying an additional 176 shares during the period. Finally, Aspiriant LLC increased its position in shares of American International Group by 3.4% during the fourth quarter. Aspiriant LLC now owns 5,417 shares of the insurance provider’s stock valued at $367,000 after buying an additional 178 shares during the period. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

AIG has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Citigroup boosted their price target on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. HSBC lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Wednesday, May 15th. Finally, BMO Capital Markets boosted their price objective on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus target price of $81.38.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now directly owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

American International Group Trading Up 0.6 %

Shares of NYSE AIG opened at $74.97 on Friday. American International Group, Inc. has a 52-week low of $55.68 and a 52-week high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50 day moving average price is $76.71 and its 200-day moving average price is $73.14. The company has a market cap of $49.76 billion, a PE ratio of 11.19, a P/E/G ratio of 2.05 and a beta of 1.08.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion for the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter last year, the company posted $1.63 earnings per share. On average, equities research analysts expect that American International Group, Inc. will post 7.02 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.13%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

American International Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About American International Group

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.