Plato Investment Management Ltd purchased a new stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 30,353 shares of the insurance provider’s stock, valued at approximately $2,249,000.
A number of other hedge funds also recently added to or reduced their stakes in AIG. Price T Rowe Associates Inc. MD lifted its position in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after purchasing an additional 4,210,363 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after purchasing an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after purchasing an additional 474,035 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of American International Group by 10.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock valued at $640,133,000 after purchasing an additional 731,802 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other American International Group news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the transaction, the insider directly owned 556,004 shares in the company, valued at approximately $42,334,144.56. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.
American International Group Trading Down 1.0%
American International Group (NYSE:AIG – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. Analysts expect that American International Group, Inc. will post 8.02 EPS for the current year.
American International Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s payout ratio is 36.56%.
Analyst Upgrades and Downgrades
Several research firms recently commented on AIG. Mizuho increased their price objective on American International Group from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citigroup boosted their target price on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Morgan Stanley reduced their price target on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.28.
Get Our Latest Report on American International Group
American International Group Company 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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