American International Group, Inc. (NYSE:AIG) is Lummis Asset Management LP’s 8th Largest Position

Lummis Asset Management LP lessened its holdings in American International Group, Inc. (NYSE:AIG) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,310 shares of the insurance provider’s stock after selling 1,009 shares during the quarter. American International Group accounts for about 2.8% of Lummis Asset Management LP’s holdings, making the stock its 8th biggest position. Lummis Asset Management LP’s holdings in American International Group were worth $2,207,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Arkadios Wealth Advisors boosted its position in shares of American International Group by 13.8% during the 4th quarter. Arkadios Wealth Advisors now owns 3,373 shares of the insurance provider’s stock worth $246,000 after purchasing an additional 408 shares in the last quarter. Merit Financial Group LLC purchased a new stake in American International Group during the fourth quarter worth about $1,260,000. Avanza Fonder AB acquired a new position in American International Group during the fourth quarter worth about $3,150,000. Empirical Asset Management LLC purchased a new position in American International Group in the fourth quarter valued at about $1,308,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of American International Group by 91.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 31,050 shares of the insurance provider’s stock valued at $2,260,000 after acquiring an additional 14,794 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Up 0.6 %

Shares of American International Group stock opened at $75.06 on Friday. The company has a fifty day moving average price of $73.90 and a 200 day moving average price of $74.67. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $66.06 and a twelve month high of $80.83. The stock has a market cap of $46.82 billion, a price-to-earnings ratio of -22.14, a price-to-earnings-growth ratio of 5.51 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the prior year, the business earned $1.61 earnings per share. Equities research analysts forecast that American International Group, Inc. will post 4.91 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Monday, December 16th. American International Group’s dividend payout ratio (DPR) is -47.20%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIG. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Jefferies Financial Group lifted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI reduced their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.13.

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.