Louisiana State Employees Retirement System raised its holdings in American International Group, Inc. (NYSE:AIG) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,500 shares of the insurance provider’s stock after acquiring an additional 9,800 shares during the period. Louisiana State Employees Retirement System’s holdings in American International Group were worth $2,026,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in AIG. FMR LLC boosted its stake in shares of American International Group by 5.4% in the second quarter. FMR LLC now owns 16,718,657 shares of the insurance provider’s stock valued at $521,287,000 after purchasing an additional 854,299 shares during the period. Baird Financial Group Inc. increased its stake in American International Group by 55.6% during the 2nd quarter. Baird Financial Group Inc. now owns 14,075 shares of the insurance provider’s stock valued at $716,000 after buying an additional 5,030 shares during the period. Man Group plc acquired a new position in American International Group during the 2nd quarter valued at about $2,845,000. RMR Wealth Builders acquired a new position in American International Group during the 2nd quarter valued at about $103,000. Finally, Rockbridge Investment Management LCC acquired a new position in American International Group during the 2nd quarter valued at about $31,000. Institutional investors own 87.04% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of American International Group from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective for the company. in a research report on Monday, January 4th. TheStreet upgraded shares of American International Group from a “d+” rating to a “c” rating in a research report on Thursday, November 5th. The Goldman Sachs Group lowered shares of American International Group from a “buy” rating to a “neutral” rating and raised their price objective for the company from $38.00 to $39.00 in a research report on Wednesday, November 11th. Barclays assumed coverage on shares of American International Group in a research report on Tuesday, November 17th. They set an “equal weight” rating and a $39.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of American International Group from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, November 11th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.07.
American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The business had revenue of $11.34 billion during the quarter, compared to analyst estimates of $10.79 billion. American International Group had a negative net margin of 10.82% and a positive return on equity of 3.62%. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, analysts predict that American International Group, Inc. will post 2.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 28th. Investors of record on Monday, December 14th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.14%. The ex-dividend date was Friday, December 11th. American International Group’s payout ratio is presently 27.89%.
In related news, EVP Alessandrea C. Quane sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $38.68, for a total transaction of $493,170.00. Following the transaction, the executive vice president now owns 44,086 shares of the company’s stock, valued at $1,705,246.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder International Group I. American acquired 625,000 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by company insiders.
American International Group Company 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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