First Republic Investment Management Inc. reduced its holdings in American International Group Inc (NYSE:AIG) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 474,255 shares of the insurance provider’s stock after selling 29,123 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.05% of American International Group worth $25,249,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in American International Group by 21,735.7% in the second quarter. Advisors Asset Management Inc. now owns 9,171 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 9,129 shares during the last quarter. Zions Bancorporation acquired a new position in American International Group in the third quarter valued at $124,000. Financial Engines Advisors L.L.C. increased its stake in American International Group by 350.2% in the third quarter. Financial Engines Advisors L.L.C. now owns 2,890 shares of the insurance provider’s stock valued at $154,000 after purchasing an additional 2,248 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in American International Group by 3,312.4% in the second quarter. Integrated Investment Consultants LLC now owns 3,037 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new position in American International Group in the third quarter valued at $163,000. Hedge funds and other institutional investors own 90.18% of the company’s stock.
Several equities analysts recently commented on AIG shares. Argus dropped 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. Morgan Stanley set a $65.00 target price on American International Group and gave the company a “buy” rating in a research note on Wednesday, October 17th. Wells Fargo & Co set a $62.00 target price on American International Group and gave the company a “buy” rating in a research note on Thursday, October 18th. Deutsche Bank dropped their target price on American International Group from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Monday, October 22nd. Finally, Zacks Investment Research lowered American International Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $59.31.
Shares of NYSE:AIG opened at $37.90 on Friday. The stock has a market cap of $34.86 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.38 and a beta of 1.49. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.58. American International Group Inc has a 12 month low of $37.83 and a 12 month high of $65.05.
American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, October 31st. The insurance provider reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.40). The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $12.44 billion. American International Group had a positive return on equity of 3.44% and a negative net margin of 12.73%. During the same quarter in the prior year, the company earned ($1.22) earnings per share. Research analysts predict that American International Group Inc will post 2.6 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Wednesday, December 12th will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, December 11th. This represents a $1.28 annualized dividend and a yield of 3.38%. American International Group’s dividend payout ratio is presently 53.33%.
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American International Group Company 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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