Fifth Third Bancorp Has $7.67 Million Position in American International Group, Inc. (NYSE:AIG)

Fifth Third Bancorp lowered its position in American International Group, Inc. (NYSE:AIG) by 16.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,172 shares of the insurance provider’s stock after selling 17,875 shares during the period. Fifth Third Bancorp’s holdings in American International Group were worth $7,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. acquired a new position in American International Group during the fourth quarter valued at approximately $25,000. Asset Planning Inc acquired a new position in American International Group during the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in American International Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in shares of American International Group in the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of American International Group in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insiders Place Their Bets

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the sale, the executive vice president now owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on AIG. Jefferies Financial Group increased their price objective on American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods increased their price objective on American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $91.00 price objective (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Finally, Barclays increased their price objective on American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.12.

American International Group Stock Performance

NYSE:AIG opened at $84.52 on Friday. The stock’s 50-day simple moving average is $82.83 and its 200 day simple moving average is $78.87. The firm has a market capitalization of $48.71 billion, a PE ratio of -40.63, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same period last year, the company earned $1.25 earnings per share. On average, analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.45 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. American International Group’s payout ratio is presently -67.67%.

About American International Group

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.