Westpac Banking Corp grew its stake in shares of American International Group Inc (NYSE:AIG) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 100,715 shares of the insurance provider’s stock after buying an additional 4,000 shares during the period. Westpac Banking Corp’s holdings in American International Group were worth $5,366,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in AIG. Harel Insurance Investments & Financial Services Ltd. bought a new stake in American International Group during the first quarter worth about $29,000. Clean Yield Group bought a new stake in American International Group during the second quarter worth about $40,000. Rational Advisors LLC bought a new stake in American International Group during the first quarter worth about $45,000. Private Ocean LLC bought a new stake in American International Group during the second quarter worth about $53,000. Finally, Exane Derivatives bought a new stake in American International Group during the second quarter worth about $58,000. 89.88% of the stock is owned by institutional investors and hedge funds.
Shares of AIG traded up $0.65 during mid-day trading on Friday, hitting $54.39. 106,834 shares of the company traded hands, compared to its average volume of 3,752,838. American International Group Inc has a one year low of $36.16 and a one year high of $57.58. The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $55.29 and a 200 day moving average of $49.13. The stock has a market capitalization of $48.82 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 0.99 and a beta of 1.19.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.26. American International Group had a negative net margin of 0.24% and a positive return on equity of 2.97%. The business had revenue of $12.16 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, analysts anticipate that American International Group Inc will post 5.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 17th will be issued a $0.32 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.28 annualized dividend and a yield of 2.35%. American International Group’s dividend payout ratio is currently 109.40%.
Several analysts have weighed in on the stock. William Blair raised shares of American International Group from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 18th. Deutsche Bank cut shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 price target on the stock. in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and set a $56.00 price target (up from $50.00) on shares of American International Group in a research note on Tuesday, May 7th. Royal Bank of Canada increased their price target on shares of American International Group to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $62.00 price target on shares of American International Group in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.03.
In other American International Group news, CEO Seraina Macia sold 7,550 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $56.00, for a total value of $422,800.00. Following the sale, the chief executive officer now directly owns 11,055 shares in the company, valued at $619,080. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Therese M. Vaughan bought 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $51.71 per share, for a total transaction of $51,710.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $51,710. The disclosure for this purchase can be found here. Corporate insiders own 0.10% of the company’s stock.
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.
Recommended Story: How do CD ladders protect against rising interest rates?
Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group Inc (NYSE:AIG).
Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.