Havemeyer Place LP purchased a new position in American International Group, Inc. (NYSE:AIG – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,982 shares of the insurance provider’s stock, valued at approximately $2,223,000.
A number of other institutional investors and hedge funds have also modified their holdings of AIG. Capital Research Global Investors grew its holdings in shares of American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after acquiring an additional 12,645,616 shares during the period. Norges Bank acquired a new stake in shares of American International Group in the 4th quarter worth approximately $636,782,000. Vanguard Group Inc. grew its holdings in shares of American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after acquiring an additional 7,117,583 shares during the period. Wellington Management Group LLP grew its holdings in shares of American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after acquiring an additional 1,899,203 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after acquiring an additional 1,846,979 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.
American International Group Stock Performance
NYSE AIG opened at $75.51 on Friday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.46. The stock has a market cap of $40.03 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The business has a fifty day moving average of $76.04 and a 200-day moving average of $77.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.
American International Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is presently 31.75%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on American International Group from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Cantor Fitzgerald upped their price target on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Citigroup upped their price target on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. JPMorgan Chase & Co. cut their price objective on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus target price of $88.06.
Check Out Our Latest Stock Report on AIG
American International Group Profile
American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.
The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.
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