American International Group, Inc. (NYSE:AIG) Shares Acquired by Sitrin Capital Management LLC

Sitrin Capital Management LLC lifted its holdings in American International Group, Inc. (NYSE:AIG) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,686 shares of the insurance provider’s stock after purchasing an additional 623 shares during the period. American International Group makes up 3.4% of Sitrin Capital Management LLC’s holdings, making the stock its 11th biggest holding. Sitrin Capital Management LLC’s holdings in American International Group were worth $6,675,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AIG. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of American International Group during the third quarter worth $494,000. Artemis Investment Management LLP increased its holdings in American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after purchasing an additional 147,235 shares during the period. Beacon Investment Advisory Services Inc. raised its position in American International Group by 5.2% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after purchasing an additional 3,490 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of American International Group in the 4th quarter valued at about $1,260,000. Finally, Williams & Novak LLC acquired a new position in shares of American International Group during the fourth quarter worth about $279,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Up 0.6 %

Shares of American International Group stock opened at $79.00 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $46.88 billion, a P/E ratio of -37.98, a PEG ratio of 1.01 and a beta of 1.05. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $80.83. The company’s fifty day moving average is $73.97 and its two-hundred day moving average is $74.63.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insider Buying and Selling

In other news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AIG shares. Morgan Stanley lifted their price target on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods upped their price objective on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company raised their target price on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. 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, the stock has a consensus rating of “Hold” and a consensus price target of $83.94.

American International Group Company Profile

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.