Boothe Investment Group Inc. purchased a new position in shares of American International Group Inc (NYSE:AIG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 50,453 shares of the insurance provider’s stock, valued at approximately $2,675,000. American International Group comprises approximately 2.5% of Boothe Investment Group Inc.’s holdings, making the stock its 9th biggest position.
Several other large investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC purchased a new stake in American International Group during the 2nd quarter worth about $115,000. Kaizen Advisory LLC increased its position in American International Group by 152.1% during the 2nd quarter. Kaizen Advisory LLC now owns 2,196 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 1,325 shares in the last quarter. Integrated Investment Consultants LLC increased its position in American International Group by 3,312.4% during the 2nd quarter. Integrated Investment Consultants LLC now owns 3,037 shares of the insurance provider’s stock worth $161,000 after purchasing an additional 2,948 shares in the last quarter. Miles Capital Inc. purchased a new stake in American International Group during the 1st quarter worth about $213,000. Finally, Evergreen Capital Management LLC purchased a new stake in American International Group during the 1st quarter worth about $214,000. 87.95% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:AIG opened at $53.16 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.28 and a quick ratio of 0.28. American International Group Inc has a 1 year low of $49.57 and a 1 year high of $65.55. The stock has a market cap of $46.71 billion, a PE ratio of 36.51, a PEG ratio of 1.05 and a beta of 1.25.
American International Group (NYSE:AIG) last issued its earnings results on Thursday, August 2nd. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.16). American International Group had a positive return on equity of 2.03% and a negative net margin of 13.67%. The firm had revenue of $11.47 billion for the quarter, compared to analysts’ expectations of $11.71 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. sell-side analysts forecast that American International Group Inc will post 4.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Monday, September 17th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, September 14th. American International Group’s payout ratio is currently 53.33%.
A number of research firms recently commented on AIG. Argus dropped their price objective 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. Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. set a $63.00 price target on American International Group and gave the company a “hold” rating in a report on Sunday, August 5th. ValuEngine cut American International Group from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Wells Fargo & Co set a $62.00 price target on American International Group and gave the company a “buy” rating in a report on Thursday, June 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $64.02.
About American International Group
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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