Meadow Creek Investment Management LLC reduced its stake in shares of American International Group Inc (NYSE:AIG) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,452 shares of the insurance provider’s stock after selling 1,258 shares during the period. Meadow Creek Investment Management LLC’s holdings in American International Group were worth $1,409,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Clean Yield Group purchased a new position in American International Group in the 2nd quarter worth approximately $40,000. Rational Advisors LLC purchased a new position in American International Group in the 1st quarter worth approximately $45,000. Meeder Asset Management Inc. lifted its holdings in American International Group by 3,353.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 898 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 872 shares in the last quarter. Private Ocean LLC purchased a new position in American International Group in the 2nd quarter worth approximately $53,000. Finally, Exane Derivatives purchased a new position in American International Group in the 2nd quarter worth approximately $58,000. 90.99% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:AIG traded up $0.49 during trading hours on Friday, reaching $57.25. The stock had a trading volume of 67,013 shares, compared to its average volume of 3,242,876. 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 Inc has a 52 week low of $36.16 and a 52 week high of $57.58. The company has a 50 day moving average price of $54.54 and a two-hundred day moving average price of $50.45. The stock has a market capitalization of $48.28 billion, a PE ratio of 48.90, a PEG ratio of 1.08 and a beta of 1.19.
American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.26. American International Group had a positive return on equity of 2.97% and a negative net margin of 0.24%. The business had revenue of $12.16 billion for the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter in the previous year, the company posted $1.05 EPS. Equities research analysts predict that American International Group Inc will post 5.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is 109.40%.
In other American International Group news, CEO Seraina Macia sold 7,550 shares of American International Group stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $56.00, for a total value of $422,800.00. Following the sale, the chief executive officer now owns 11,055 shares of the company’s stock, valued at approximately $619,080. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.
AIG has been the topic of a number of research analyst reports. Deutsche Bank cut American International Group from a “buy” rating to a “hold” rating and set a $53.35 price target on the stock. in a report on Wednesday, June 5th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “buy” rating and issued a $62.00 price target on shares of American International Group in a report on Wednesday, August 7th. Zacks Investment Research cut American International Group from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a report on Thursday, August 8th. ValuEngine cut American International Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Evercore ISI reissued a “hold” rating and issued a $53.00 price target on shares of American International Group in a report on Sunday, August 11th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $57.03.
American International Group Profile
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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