Sustainable Insight Capital Management LLC bought a new stake in American International Group Inc (NYSE:AIG) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 17,500 shares of the insurance provider’s stock, valued at approximately $754,000.
Other hedge funds have also modified their holdings of the company. Norinchukin Bank The lifted its holdings in American International Group by 10.1% in the fourth quarter. Norinchukin Bank The now owns 69,225 shares of the insurance provider’s stock valued at $2,728,000 after acquiring an additional 6,372 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in American International Group by 13.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 335,564 shares of the insurance provider’s stock valued at $13,225,000 after buying an additional 38,625 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in American International Group by 12.1% in the 4th quarter. Bank of New York Mellon Corp now owns 9,974,712 shares of the insurance provider’s stock valued at $393,104,000 after buying an additional 1,077,501 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of American International Group by 17.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 1,073,892 shares of the insurance provider’s stock valued at $42,322,000 after purchasing an additional 159,462 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of American International Group by 36.0% in the 4th quarter. Stephens Inc. AR now owns 22,207 shares of the insurance provider’s stock valued at $875,000 after purchasing an additional 5,875 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.
AIG has been the topic of several research reports. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Thursday, May 9th. Morgan Stanley increased their target price on American International Group from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America reissued a “buy” rating and set a $56.00 target price (up previously from $50.00) on shares of American International Group in a research note on Tuesday, May 7th. ValuEngine raised American International Group from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Finally, Wells Fargo & Co increased their price target on American International Group from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $54.82.
Shares of AIG traded up $0.48 during mid-day trading on Monday, reaching $52.85. The company’s stock had a trading volume of 104,493 shares, compared to its average volume of 6,428,257. American International Group Inc has a 12-month low of $36.16 and a 12-month high of $56.36. The company has a market cap of $45.55 billion, a P/E ratio of 45.16, a PEG ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.27 and a current ratio of 0.27.
American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.52. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. The business had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.25 billion. During the same quarter in the prior year, the business posted $1.04 EPS. As a group, analysts predict that American International Group Inc will post 4.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.42%. American International Group’s dividend payout ratio is presently 109.40%.
American International Group declared that its board has initiated a share repurchase program on Wednesday, February 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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