First American Trust FSB acquired a new position in American International Group Inc (NYSE:AIG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 72,991 shares of the insurance provider’s stock, valued at approximately $3,889,000.
Several other hedge funds have also made changes to their positions in AIG. Norges Bank bought a new stake in shares of American International Group in the fourth quarter worth $354,739,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of American International Group by 49.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 22,573,630 shares of the insurance provider’s stock worth $889,627,000 after purchasing an additional 7,516,503 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of American International Group by 24.8% in the fourth quarter. Macquarie Group Ltd. now owns 16,690,982 shares of the insurance provider’s stock worth $657,792,000 after purchasing an additional 3,312,810 shares in the last quarter. Boston Partners lifted its position in shares of American International Group by 20.7% in the first quarter. Boston Partners now owns 17,946,719 shares of the insurance provider’s stock worth $772,786,000 after purchasing an additional 3,079,624 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of American International Group by 39.7% in the first quarter. Clearbridge Investments LLC now owns 10,351,337 shares of the insurance provider’s stock worth $445,729,000 after purchasing an additional 2,943,241 shares in the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the stock. Deutsche Bank lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 price objective on the stock. in a research report on Wednesday, June 5th. They noted that the move was a valuation call. Keefe, Bruyette & Woods boosted their target price on shares of American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Sunday, July 7th. Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Bank of America restated a “buy” rating and set a $85.00 target price (up from $78.00) on shares of Everbridge in a report on Tuesday, May 7th. Finally, William Blair upgraded shares of American International Group from a “market perform” rating to an “outperform” rating in a report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.86.
In related news, Director Therese M. Vaughan acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $51.71 per share, for a total transaction of $51,710.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at $51,710. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.10% of the stock is owned by insiders.
Shares of NYSE:AIG traded up $0.41 on Tuesday, hitting $56.29. The company had a trading volume of 2,160,200 shares, compared to its average volume of 5,092,995. American International Group Inc has a 1-year low of $36.16 and a 1-year high of $56.68. The company has a market cap of $48.34 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.03 and a beta of 1.20. The stock’s 50 day moving average is $54.24. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58.
American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.52. American International Group had a negative net margin of 0.60% and a positive return on equity of 2.48%. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.25 billion. During the same period in the previous year, the company earned $1.04 earnings per share. On average, equities analysts predict that American International Group Inc will post 4.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.32 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 2.27%. American International Group’s dividend payout ratio is currently 109.40%.
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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