Ontario Teachers Pension Plan Board increased its position in American International Group Inc (NYSE:AIG) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,298,818 shares of the insurance provider’s stock after buying an additional 38,854 shares during the quarter. American International Group comprises 1.0% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 19th largest position. Ontario Teachers Pension Plan Board’s holdings in American International Group were worth $68,863,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of American International Group by 56.3% in the second quarter. FMR LLC now owns 22,621,535 shares of the insurance provider’s stock valued at $1,199,393,000 after purchasing an additional 8,149,702 shares during the period. Franklin Resources Inc. boosted its stake in American International Group by 3.5% during the 1st quarter. Franklin Resources Inc. now owns 21,547,420 shares of the insurance provider’s stock valued at $1,172,611,000 after acquiring an additional 718,976 shares during the last quarter. Boston Partners boosted its stake in American International Group by 82.5% during the 2nd quarter. Boston Partners now owns 12,260,976 shares of the insurance provider’s stock valued at $650,077,000 after acquiring an additional 5,543,692 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in American International Group by 0.9% during 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 acquiring an additional 81,229 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in American International Group by 17.8% during the 2nd quarter. Pzena Investment Management LLC now owns 8,778,185 shares of the insurance provider’s stock valued at $465,419,000 after acquiring an additional 1,327,729 shares during the last quarter. Institutional investors and hedge funds own 89.31% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of American International Group from a “strong sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a research note on Wednesday, July 4th. ValuEngine upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Argus dropped their target price on shares of American International Group from $63.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Wells Fargo & Co set a $62.00 target price on shares of American International Group and gave the stock a “buy” rating in a report on Thursday, June 7th. Finally, UBS Group raised shares of American International Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.71 to $63.00 in a report on Thursday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. American International Group currently has a consensus rating of “Buy” and a consensus target price of $64.02.
Shares of NYSE:AIG traded down $0.14 on Thursday, reaching $53.76. 19,591 shares of the company’s stock were exchanged, compared to its average volume of 5,071,736. The stock has a market capitalization of $48.17 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. American International Group Inc has a fifty-two week low of $49.57 and a fifty-two week high of $65.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.28 and a current ratio of 0.28.
American International Group (NYSE:AIG) last issued its earnings results on Thursday, August 2nd. The insurance provider reported $1.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.16). The business had revenue of $11.47 billion for the quarter, compared to analyst estimates of $11.71 billion. American International Group had a positive return on equity of 2.03% and a negative net margin of 13.67%. During the same period last year, the company posted $1.19 earnings per share. sell-side analysts expect that American International Group Inc will post 4.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Monday, September 17th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.38%. American International Group’s dividend payout ratio (DPR) is 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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