Daiwa Securities Group Inc. reduced its stake in American International Group Inc (NYSE:AIG) by 19.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,787 shares of the insurance provider’s stock after selling 22,480 shares during the period. Daiwa Securities Group Inc.’s holdings in American International Group were worth $4,081,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of AIG. Stelac Advisory Services LLC raised its holdings in American International Group by 9.7% in the 4th quarter. Stelac Advisory Services LLC now owns 3,449 shares of the insurance provider’s stock valued at $136,000 after buying an additional 305 shares during the last quarter. AMG National Trust Bank raised its holdings in American International Group by 0.3% in the 1st quarter. AMG National Trust Bank now owns 123,260 shares of the insurance provider’s stock valued at $5,307,000 after buying an additional 323 shares during the last quarter. Auxier Asset Management raised its holdings in American International Group by 0.4% in the 3rd quarter. Auxier Asset Management now owns 106,674 shares of the insurance provider’s stock valued at $5,679,000 after buying an additional 400 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in American International Group by 1.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 47,493 shares of the insurance provider’s stock valued at $1,872,000 after buying an additional 555 shares during the last quarter. Finally, BB&T Corp raised its holdings in American International Group by 5.6% in the 1st quarter. BB&T Corp now owns 11,002 shares of the insurance provider’s stock valued at $473,000 after buying an additional 586 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.
A number of brokerages recently issued reports on AIG. Morgan Stanley raised their price objective on shares of American International Group from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Barclays raised their price objective on shares of American International Group from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $56.00 price target on shares of American International Group in a report on Wednesday, May 8th. Bank of America restated a “buy” rating and set a $56.00 price target (up previously from $50.00) on shares of American International Group in a report on Tuesday, May 7th. Finally, Wells Fargo & Co raised their price target on shares of American International Group from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.64.
American International Group stock traded up $0.06 during mid-day trading on Wednesday, hitting $52.56. 3,907,172 shares of the stock were exchanged, compared to its average volume of 5,561,187. 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 Inc has a 12 month low of $36.16 and a 12 month high of $56.36. The firm has a market cap of $45.66 billion, a price-to-earnings ratio of 44.92, a PEG ratio of 0.96 and a beta of 1.40.
American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, May 6th. The insurance provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.52. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.25 billion. American International Group had a negative net margin of 0.60% and a positive return on equity of 2.48%. During the same quarter last year, the business earned $1.04 EPS. As a group, equities research analysts predict that American International Group Inc will post 4.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 2.44%. American International Group’s dividend payout ratio is currently 109.40%.
American International Group announced that its board has authorized a stock repurchase plan on Wednesday, February 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally 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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