American International Group, Inc. $AIG Shares Purchased by Gibbs Wealth Management

Gibbs Wealth Management grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 147.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,026 shares of the insurance provider’s stock after purchasing an additional 13,135 shares during the quarter. Gibbs Wealth Management’s holdings in American International Group were worth $1,657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Modus Advisors LLC acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new position in shares of American International Group during the fourth quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new position in American International Group in the 4th quarter worth approximately $29,000. SHP Wealth Management bought a new position in American International Group in the 4th quarter worth approximately $34,000. Finally, CENTRAL TRUST Co increased its position in American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 151 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of AIG stock opened at $78.26 on Friday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The stock’s 50-day moving average is $76.68 and its two-hundred day moving average is $76.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $41.49 billion, a P/E ratio of 13.80, a PEG ratio of 0.72 and a beta of 0.53.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the company earned $1.17 EPS. Analysts predict that American International Group, Inc. will post 7.97 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 given a $0.50 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s payout ratio is presently 35.27%.

Analysts Set New Price Targets

AIG has been the topic of several research analyst reports. Bank of America lowered their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company lifted their target price on American International Group from $85.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Cantor Fitzgerald upgraded American International Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $92.00 in a report on Thursday, July 9th. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Finally, UBS Group raised their price target on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. One 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $88.22.

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.