American International Group, Inc. $AIG Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its stake in shares of American International Group, Inc. (NYSE:AIG) by 108.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,086 shares of the insurance provider’s stock after purchasing an additional 11,986 shares during the period. Axxcess Wealth Management LLC’s holdings in American International Group were worth $1,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AIG. Capital Research Global Investors grew its stake in shares of American International Group by 79.6% during the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Vanguard Group Inc. grew its stake in shares of American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after purchasing an additional 7,117,583 shares during the period. Wellington Management Group LLP grew its stake in shares of American International Group by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after purchasing an additional 1,846,979 shares during the period. Finally, Viking Global Investors LP acquired a new position in shares of American International Group during the 2nd quarter worth $155,413,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. BMO Capital Markets upped their price target on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. JPMorgan Chase & Co. lowered 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. Cantor Fitzgerald upped their price target on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Citigroup upped their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One equities 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $88.06.

American International Group Price Performance

American International Group stock opened at $77.03 on Monday. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $76.18 and its 200 day simple moving average is $77.63. The firm has a market capitalization of $40.84 billion, a PE ratio of 13.59, a P/E/G ratio of 0.71 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, topping the consensus estimate 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 business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the firm earned $1.17 EPS. On average, equities research analysts predict that American International Group, Inc. will post 7.97 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently announced 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 a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s payout ratio is currently 31.75%.

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.