The Manufacturers Life Insurance Company cut its position in American International Group, Inc. (NYSE:AIG) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 886,865 shares of the insurance provider’s stock after selling 150,164 shares during the period. The Manufacturers Life Insurance Company owned 0.10% of American International Group worth $24,416,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in AIG. Macquarie Group Ltd. boosted its position in American International Group by 25.8% in the second quarter. Macquarie Group Ltd. now owns 21,492,255 shares of the insurance provider’s stock valued at $670,129,000 after buying an additional 4,404,178 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in American International Group by 20.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 19,827,786 shares of the insurance provider’s stock valued at $545,859,000 after buying an additional 3,374,857 shares in the last quarter. Prudential PLC acquired a new position in American International Group in the third quarter valued at about $72,751,000. Pzena Investment Management LLC boosted its position in American International Group by 13.9% in the second quarter. Pzena Investment Management LLC now owns 18,086,847 shares of the insurance provider’s stock valued at $563,948,000 after buying an additional 2,202,350 shares in the last quarter. Finally, Turiya Advisors Asia Ltd acquired a new position in American International Group in the second quarter valued at about $53,661,000. Hedge funds and other institutional investors own 79.97% of the company’s stock.
In related news, CFO Elias F. Habayeb sold 8,500 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $29.40, for a total transaction of $249,900.00. Following the completion of the transaction, the chief financial officer now owns 5,745 shares in the company, valued at $168,903. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder International Group I. American bought 625,000 shares of American International Group stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average price of $16.00 per share, with a total value of $10,000,000.00. The disclosure for this purchase can be found here. 0.16% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on AIG. TheStreet upgraded shares of American International Group from a “d+” rating to a “c” rating in a research report on Thursday, November 5th. Barclays began coverage on shares of American International Group in a research report on Tuesday, November 17th. They set an “equal weight” rating and a $39.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of American International Group from $33.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, November 11th. Bank of America upgraded shares of American International Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $38.00 in a research report on Thursday, August 6th. Finally, Morgan Stanley dropped their price target on shares of American International Group from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.80.
Shares of AIG stock opened at $38.61 on Friday. The firm has a fifty day moving average of $32.32 and a 200-day moving average of $30.54. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.60. American International Group, Inc. has a 12-month low of $16.07 and a 12-month high of $56.42. The company has a market capitalization of $33.26 billion, a price-to-earnings ratio of -6.63, a P/E/G ratio of 1.53 and a beta of 1.28.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.19. American International Group had a negative net margin of 10.82% and a positive return on equity of 3.62%. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, equities analysts expect that American International Group, Inc. will post 2.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Monday, December 14th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, December 11th. American International Group’s dividend payout ratio is 27.89%.
American International Group Company 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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