Fifth Third Bancorp Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

Fifth Third Bancorp trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,047 shares of the insurance provider’s stock after selling 5,088 shares during the period. Fifth Third Bancorp’s holdings in American International Group were worth $7,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new position in shares of American International Group in the third quarter valued at $26,000. True Wealth Design LLC bought a new position in American International Group in the 3rd quarter worth about $29,000. Fortitude Family Office LLC grew its holdings in American International Group by 58.3% during the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after buying an additional 210 shares in the last quarter. Continuum Advisory LLC increased its position in shares of American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after buying an additional 207 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of American International Group in the third quarter worth about $46,000. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG opened at $73.71 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock has a market cap of $45.98 billion, a PE ratio of -21.74, a PEG ratio of 5.89 and a beta of 1.06. The company’s fifty day moving average is $73.80 and its 200 day moving average is $74.66. American International Group, Inc. has a 52 week low of $67.53 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion for 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 previous year, the business earned $1.61 earnings per share. Research analysts anticipate that American International Group, Inc. will post 4.89 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Jefferies Financial Group lifted their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods dropped their price target on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.13.

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.