Itau Unibanco Holding S.A. acquired a new position in shares of American International Group Inc (NYSE:AIG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,362 shares of the insurance provider’s stock, valued at approximately $230,000.
A number of other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake in American International Group by 56.3% during the 2nd quarter. FMR LLC now owns 22,621,535 shares of the insurance provider’s stock worth $1,199,393,000 after buying an additional 8,149,702 shares during the period. Franklin Resources Inc. raised 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 worth $1,172,611,000 after buying an additional 718,976 shares during the period. Boston Partners raised 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 worth $650,077,000 after buying an additional 5,543,692 shares during the period. Bank of New York Mellon Corp raised 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 worth $499,125,000 after buying an additional 81,229 shares during the period. Finally, Pzena Investment Management LLC raised 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 worth $465,419,000 after buying an additional 1,327,729 shares during the period. 89.31% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. ValuEngine cut American International Group from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. 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. reiterated a “neutral” rating and set a $63.00 target price on shares of American International Group in a report on Saturday, June 2nd. Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $61.00 target price for the company in a report on Thursday, May 10th. Finally, UBS Group upgraded 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $63.33.
AIG stock opened at $53.90 on Friday. The stock has a market cap of $47.82 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.07 and a beta of 1.28. 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.
American International Group (NYSE:AIG) last released 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). The firm had revenue of $11.47 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $1.19 EPS. sell-side analysts forecast that American International Group Inc will post 4.56 earnings per share for the current year.
The company 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. This represents a $1.28 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, September 14th. American International Group’s dividend payout ratio (DPR) is presently 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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