Tiverton Asset Management LLC cut its holdings in shares of American International Group (NYSE:AIG) by 66.7% during the first quarter, HoldingsChannel.com reports. The firm owned 3,495 shares of the insurance provider’s stock after selling 7,011 shares during the quarter. Tiverton Asset Management LLC’s holdings in American International Group were worth $190,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. purchased a new stake in American International Group during the fourth quarter worth about $134,000. Dragon Financial & Investment Group LLC purchased a new stake in American International Group during the fourth quarter worth about $201,000. Mycio Wealth Partners LLC acquired a new position in shares of American International Group during the fourth quarter worth about $202,000. CAPROCK Group Inc. acquired a new position in shares of American International Group during the fourth quarter worth about $212,000. Finally, Gould Asset Management LLC CA acquired a new position in shares of American International Group during the fourth quarter worth about $209,000. Institutional investors own 88.84% of the company’s stock.
Shares of American International Group opened at $55.15 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $49.18 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.24. American International Group has a 52-week low of $49.57 and a 52-week high of $67.30.
American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.22). The business had revenue of $11.73 billion during the quarter, compared to analyst estimates of $11.60 billion. American International Group had a negative net margin of 13.03% and a positive return on equity of 2.65%. During the same period last year, the company earned $1.36 earnings per share. sell-side analysts predict that American International Group will post 4.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Thursday, June 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, June 13th. American International Group’s dividend payout ratio (DPR) is 53.33%.
A number of equities analysts have recently commented on the company. UBS raised American International Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.71 to $63.00 in a research report on Thursday. ValuEngine downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. Deutsche Bank lowered their price objective on American International Group from $60.00 to $58.00 and set a “hold” rating for the company in a research report on Thursday, May 3rd. Morgan Stanley lowered their price objective on American International Group from $72.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, May 4th. Finally, Wells Fargo reissued a “buy” rating on shares of American International Group in a research report on Monday, May 14th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. American International Group has a consensus rating of “Hold” and a consensus price target of $66.56.
In other American International Group news, Director Douglas M. Steenland purchased 4,800 shares of the stock in a transaction that occurred on Friday, May 4th. The stock was purchased at an average cost of $52.06 per share, with a total value of $249,888.00. Following the completion of the acquisition, the director now directly owns 3,510 shares of the company’s stock, valued at approximately $182,730.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Don Cornwell sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $58.78, for a total value of $146,950.00. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.
American International Group Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. 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, and marine insurance.
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