Robeco Institutional Asset Management B.V. grew its holdings in shares of American International Group Inc (NYSE:AIG) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 153,432 shares of the insurance provider’s stock after purchasing an additional 2,626 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in American International Group were worth $6,606,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Stelac Advisory Services LLC grew its position in shares of American International Group by 9.7% during the 4th quarter. Stelac Advisory Services LLC now owns 3,449 shares of the insurance provider’s stock valued at $136,000 after acquiring an additional 305 shares during the period. AMG National Trust Bank grew its position in shares of American International Group by 0.3% during the 1st quarter. AMG National Trust Bank now owns 123,260 shares of the insurance provider’s stock valued at $5,307,000 after acquiring an additional 323 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of American International Group by 1.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 47,493 shares of the insurance provider’s stock valued at $1,872,000 after acquiring an additional 555 shares during the period. BB&T Corp grew its position in shares of American International Group by 5.6% during the 1st quarter. BB&T Corp now owns 11,002 shares of the insurance provider’s stock valued at $473,000 after acquiring an additional 586 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of American International Group by 2.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 29,010 shares of the insurance provider’s stock valued at $1,143,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Co boosted their price objective on shares of American International Group from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Bank of America reissued a “buy” rating and set a $56.00 price objective (up previously from $50.00) on shares of American International Group in a research report on Tuesday, May 7th. Argus downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Credit Suisse Group assumed coverage on shares of American International Group in a report on Tuesday, February 5th. They issued a “neutral” rating and a $46.00 target price for the company. Finally, Zacks Investment Research raised shares of American International Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. American International Group presently has an average rating of “Buy” and an average target price of $55.17.
Shares of American International Group stock opened at $51.48 on Thursday. The firm has a market capitalization of $44.11 billion, a P/E ratio of 44.00, a PEG ratio of 0.94 and a beta of 1.40. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.58. American International Group Inc has a fifty-two week low of $36.16 and a fifty-two week high of $56.36.
American International Group (NYSE:AIG) last issued its earnings results on Monday, May 6th. The insurance provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.52. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $12.25 billion. American International Group had a negative net margin of 0.60% and a positive return on equity of 2.48%. During the same quarter in the prior year, the firm posted $1.04 EPS. On average, sell-side analysts forecast that American International Group Inc will post 4.89 EPS for the current year.
American International Group declared that its board has approved a stock repurchase plan on Wednesday, February 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 13th. American International Group’s dividend payout ratio is currently 109.40%.
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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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