Fifth Third Bancorp Increases Holdings in American International Group, Inc. $AIG

Fifth Third Bancorp increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 168.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 220,788 shares of the insurance provider’s stock after buying an additional 138,406 shares during the period. Fifth Third Bancorp’s holdings in American International Group were worth $16,614,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 129 shares during the period. Westwood Holdings Group Inc. boosted its holdings in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 130 shares during the period. Larson Financial Group LLC boosted its stake in American International Group by 12.6% during the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after buying an additional 140 shares during the period. GW&K Investment Management LLC boosted its position in shares of American International Group by 8.1% during the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 144 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after buying an additional 146 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Trading Down 1.0%

Shares of NYSE:AIG opened at $79.12 on Wednesday. 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 company has a market cap of $41.95 billion, a P/E ratio of 13.95, a PEG ratio of 0.73 and a beta of 0.53. The stock’s fifty day moving average price is $76.33 and its 200-day moving average price is $76.82. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29.

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 analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter last year, the firm posted $1.17 EPS. Sell-side analysts expect that American International Group, Inc. will post 8 earnings per share for the current year.

American International Group Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, June 15th. 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 2.5%. American International Group’s payout ratio is 35.27%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AIG shares. Wells Fargo & Company upped their price objective on American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. The Goldman Sachs Group boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. UBS Group upped their target price on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Citigroup raised their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Morgan Stanley lowered their price objective on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, American International Group has an average rating of “Moderate Buy” and an average price target of $88.44.

American International Group Company 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.