Fifth Third Bancorp Buys 138,406 Shares of American International Group, Inc. $AIG

Fifth Third Bancorp raised its position in American International Group, Inc. (NYSE:AIG) by 168.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,788 shares of the insurance provider’s stock after purchasing an additional 138,406 shares during the quarter. Fifth Third Bancorp’s holdings in American International Group were worth $16,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased 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 buying an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after buying an additional 130 shares during the last quarter. Larson Financial Group LLC boosted its position 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 worth $107,000 after purchasing an additional 140 shares during the period. GW&K Investment Management LLC boosted its holdings 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 worth $164,000 after buying an additional 144 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of American International Group by 1.3% during the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after acquiring an additional 146 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

AIG stock 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. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The company’s 50-day moving average is $76.33 and its 200-day moving average is $76.82. The stock has a market capitalization of $41.95 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.73 and a beta of 0.53.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the previous year, the company posted $1.17 earnings per share. Equities research analysts expect that American International Group, Inc. will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is presently 35.27%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lowered their price target on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Barclays increased their price objective on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. HSBC dropped their target price on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, Mizuho lifted their price target on shares of American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.44.

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.