DNB Asset Management AS trimmed its position in shares of American International Group Inc (NYSE:AIG) by 4.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 reporting period.
Several other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in American International Group by 1.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 149,408 shares of the insurance provider’s stock valued at $7,951,000 after buying an additional 1,741 shares during the last quarter. Rockland Trust Co. purchased a new stake in American International Group in the 3rd quarter valued at $1,225,000. United Services Automobile Association raised its position in American International Group by 3.6% in the 2nd quarter. United Services Automobile Association now owns 713,108 shares of the insurance provider’s stock valued at $37,809,000 after buying an additional 25,053 shares during the last quarter. Northern Trust Corp raised its position 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 valued at $553,009,000 after buying an additional 479,380 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $499,125,000 after buying an additional 81,229 shares during the last quarter. 89.32% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on AIG shares. ValuEngine raised American International Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised American International Group from a “strong sell” rating to a “hold” rating and set a $60.00 price target for the company in a research report on Wednesday, July 4th. JPMorgan Chase & Co. set a $63.00 price target on American International Group and gave the company a “hold” rating in a research report on Sunday, August 5th. Finally, Argus lowered their price target on American International Group from $63.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $63.33.
Shares of American International Group stock opened at $49.77 on Friday. American International Group Inc has a 1 year low of $48.85 and a 1 year high of $65.55. The firm has a market cap of $47.30 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.26. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.55.
American International Group (NYSE:AIG) last announced its earnings results on Thursday, August 2nd. The insurance provider reported $1.05 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $11.71 billion. During the same period in the prior year, the business earned $1.19 earnings per share. Equities analysts expect that American International Group Inc will post 4.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 17th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, September 14th. American International Group’s dividend payout ratio is presently 53.33%.
American International Group Profile
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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