Point72 Europe London LLP raised its stake in American International Group Inc (NYSE:AIG) by 143.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,500 shares of the insurance provider’s stock after buying an additional 193,500 shares during the period. American International Group accounts for 14.1% of Point72 Europe London LLP’s holdings, making the stock its largest holding. Point72 Europe London LLP’s holdings in American International Group were worth $17,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of the business. Dragon Financial & Investment Group LLC bought a new position in shares of American International Group during the fourth quarter valued at $201,000. Gould Asset Management LLC CA bought a new position in shares of American International Group during the fourth quarter valued at $209,000. Miles Capital Inc. bought a new position in shares of American International Group during the first quarter valued at $213,000. Evergreen Capital Management LLC bought a new position in shares of American International Group during the first quarter valued at $214,000. Finally, Cornerstone Capital Inc. bought a new position in shares of American International Group during the fourth quarter valued at $244,000. Hedge funds and other institutional investors own 85.97% of the company’s stock.
In related news, Director Douglas M. Steenland purchased 4,800 shares of the firm’s stock in a transaction 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 purchase, the director now owns 3,510 shares in the company, valued at approximately $182,730.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas B. Leonardi purchased 2,500 shares of the firm’s stock in a transaction on Friday, May 4th. The stock was bought at an average cost of $51.55 per share, with a total value of $128,875.00. Following the completion of the purchase, the insider now owns 2,500 shares of the company’s stock, valued at approximately $128,875. The disclosure for this purchase can be found here. Insiders own 0.05% of the company’s stock.
Shares of NYSE AIG opened at $54.51 on Wednesday. American International Group Inc has a twelve month low of $49.57 and a twelve month high of $67.30. The firm has a market cap of $49.49 billion, a P/E ratio of 22.71, a PEG ratio of 1.04 and a beta of 1.20. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.53.
American International Group (NYSE:AIG) last announced its earnings results on Wednesday, May 2nd. The insurance provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.22). American International Group had a positive return on equity of 2.65% and a negative net margin of 13.03%. The firm had revenue of $11.73 billion for the quarter, compared to the consensus estimate of $11.60 billion. During the same period in the prior year, the business earned $1.36 EPS. research analysts predict that American International Group Inc will post 4.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, June 13th. American International Group’s dividend payout ratio (DPR) is currently 53.33%.
Several equities analysts have recently issued reports on AIG shares. Wells Fargo & Co set a $62.00 price target on shares of American International Group and gave the company a “buy” rating in a research note on Thursday, June 7th. UBS Group raised shares of American International Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $53.71 to $63.00 in a research note on Thursday, May 17th. Goldman Sachs Group raised shares of American International Group from a “neutral” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Thursday, May 10th. Deutsche Bank dropped their price target on shares of American International Group from $60.00 to $58.00 and set a “hold” rating for the company in a research note on Thursday, May 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $63.00 price target on shares of American International Group in a research note on Saturday, June 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. American International Group currently has a consensus rating of “Hold” and an average price target of $65.59.
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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