DNB Asset Management AS decreased its position in shares of American International Group Inc (NYSE:AIG) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 109,738 shares of the insurance provider’s stock after selling 5,556 shares during the quarter. DNB Asset Management AS’s holdings in American International Group were worth $5,842,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in American International Group by 56.3% in the 2nd quarter. FMR LLC now owns 22,621,535 shares of the insurance provider’s stock worth $1,199,393,000 after purchasing an additional 8,149,702 shares during the period. Macquarie Group Ltd. boosted its stake in American International Group by 38,370.8% in the 2nd quarter. Macquarie Group Ltd. now owns 12,733,842 shares of the insurance provider’s stock worth $675,148,000 after purchasing an additional 12,700,742 shares during the period. Boston Partners boosted its stake in American International Group by 82.5% in the 2nd quarter. Boston Partners now owns 12,260,976 shares of the insurance provider’s stock worth $650,077,000 after purchasing an additional 5,543,692 shares during the period. Northern Trust Corp boosted its stake in American International Group by 4.8% in the 2nd quarter. Northern Trust Corp now owns 10,430,195 shares of the insurance provider’s stock worth $553,009,000 after purchasing an additional 479,380 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in American International Group by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,413,923 shares of the insurance provider’s stock worth $499,125,000 after purchasing an additional 81,229 shares during the period. Institutional investors own 89.32% of the company’s stock.
Several brokerages have commented on AIG. Argus cut their target price on American International Group from $63.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, August 10th. Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. set a $63.00 target price on American International Group and gave the stock a “hold” rating in a research note on Sunday, August 5th. Finally, ValuEngine downgraded American International Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $63.33.
NYSE:AIG opened at $49.77 on Friday. American International Group Inc has a twelve month low of $48.85 and a twelve month high of $65.55. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.28 and a current ratio of 0.28.
American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, August 2nd. The insurance provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.16). American International Group had a negative net margin of 13.67% and a positive return on equity of 2.03%. The business had revenue of $11.47 billion during the quarter, compared to analysts’ expectations of $11.71 billion. During the same period in the previous year, the business earned $1.19 EPS. As a group, research analysts expect that American International Group Inc will post 4.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Monday, September 17th were issued a $0.32 dividend. The ex-dividend date was Friday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.57%. American International Group’s payout ratio is currently 53.33%.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. 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, and marine insurance.
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