Los Angeles Capital Management LLC Buys 60,348 Shares of American International Group, Inc. $AIG

Los Angeles Capital Management LLC raised its stake in American International Group, Inc. (NYSE:AIG) by 19.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 366,871 shares of the insurance provider’s stock after acquiring an additional 60,348 shares during the period. Los Angeles Capital Management LLC’s holdings in American International Group were worth $28,686,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Modus Advisors LLC bought a new position in American International Group in the fourth quarter valued at approximately $27,000. Longfellow Investment Management Co. LLC lifted its stake in American International Group by 27.7% in the fourth quarter. Longfellow Investment Management Co. LLC now owns 14,467 shares of the insurance provider’s stock valued at $1,238,000 after buying an additional 3,142 shares in the last quarter. Havemeyer Place LP bought a new position in American International Group in the fourth quarter valued at approximately $2,223,000. Pinebridge Investments LLC bought a new position in American International Group in the fourth quarter valued at approximately $698,000. Finally, Compass Rose Asset Management LP bought a new position in American International Group in the fourth quarter valued at approximately $5,219,000. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut 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. Keefe, Bruyette & Woods lifted their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, May 8th. HSBC lifted their price objective on shares of American International Group from $89.00 to $94.00 and gave the company a “buy” rating in a report on Monday, May 4th. BMO Capital Markets lifted their price objective on shares of American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Finally, Bank of America lowered their price objective on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, American International Group currently has an average rating of “Hold” and a consensus target price of $88.06.

American International Group Price Performance

Shares of AIG opened at $75.51 on Monday. The company has a market cap of $40.03 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.69 and a beta of 0.52. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.46. The company’s fifty day simple moving average is $76.04 and its 200 day simple moving average is $77.44. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share 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 net margin of 11.86% and a return on equity of 10.93%. During the same period in the previous year, the company earned $1.17 earnings per share. On average, research analysts forecast that American International Group, Inc. will post 7.99 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. Shareholders of record on Monday, June 15th will be issued a $0.50 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, June 15th. American International Group’s dividend payout ratio is presently 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.