Bank of New York Mellon Corp Has $660.85 Million Holdings in American International Group, Inc. $AIG

Bank of New York Mellon Corp trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 23.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,414,159 shares of the insurance provider’s stock after selling 2,527,179 shares during the period. Bank of New York Mellon Corp’s holdings in American International Group were worth $660,848,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after acquiring an additional 716,209 shares during the period. Norges Bank acquired a new position in shares of American International Group during the second quarter valued at about $787,724,000. Raymond James Financial Inc. raised its holdings in shares of American International Group by 4.4% during the second quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock valued at $293,516,000 after purchasing an additional 143,361 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of American International Group by 1.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,390,248 shares of the insurance provider’s stock worth $266,270,000 after purchasing an additional 48,900 shares in the last quarter. Finally, Viking Global Investors LP acquired a new stake in shares of American International Group in the 2nd quarter valued at about $155,413,000. Institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIG. Royal Bank Of Canada assumed coverage on American International Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Jefferies Financial Group increased their target price on American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wells Fargo & Company lifted their price target on shares of American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Barclays lowered their price objective on shares of American International Group from $88.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus target price of $87.42.

American International Group Trading Down 0.6%

NYSE AIG opened at $73.39 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $78.96 and a 200 day simple moving average of $79.21. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $88.07. The firm has a market capitalization of $39.60 billion, a P/E ratio of 13.34, a PEG ratio of 0.56 and a beta of 0.62.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.63. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same quarter in the prior year, the business posted $1.23 EPS. On average, analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th were paid a $0.45 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $1.80 annualized dividend and a yield of 2.5%. American International Group’s dividend payout ratio (DPR) is 32.73%.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.