Mount Yale Investment Advisors LLC bought a new stake in shares of American International Group Inc (NYSE:AIG) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,324 shares of the insurance provider’s stock, valued at approximately $344,000.
Several other institutional investors have also added to or reduced their stakes in AIG. Sound Shore Management Inc. CT purchased a new position in shares of American International Group during the 1st quarter valued at approximately $196,526,000. Orbis Allan Gray Ltd lifted its stake in American International Group by 39.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 8,865,081 shares of the insurance provider’s stock worth $528,182,000 after purchasing an additional 2,510,464 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in American International Group during the first quarter worth $92,514,000. Point72 Asset Management L.P. lifted its stake in American International Group by 383.7% during the first quarter. Point72 Asset Management L.P. now owns 1,955,534 shares of the insurance provider’s stock worth $106,420,000 after purchasing an additional 1,551,242 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in American International Group during the fourth quarter worth $64,655,000. Institutional investors own 85.90% of the company’s stock.
AIG has been the topic of several research analyst reports. UBS Group upgraded American International Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $53.71 to $63.00 in a research note on Thursday, May 17th. Wells Fargo & Co restated a “buy” rating on shares of American International Group in a research note on Monday, May 14th. Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Thursday, May 10th. ValuEngine upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Deutsche Bank reduced their price objective on American International Group from $60.00 to $58.00 and set a “hold” rating on the stock in a research note on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $65.59.
AIG stock opened at $53.23 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $47.47 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.00 and a beta of 1.20. American International Group Inc has a 1 year low of $49.57 and a 1 year high of $67.30.
American International Group (NYSE:AIG) last posted its earnings results on Wednesday, May 2nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.22). The company had revenue of $11.73 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted $1.36 earnings per share. analysts predict that American International Group Inc will post 4.83 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, June 13th. American International Group’s payout ratio is 53.33%.
In other American International Group news, Director Douglas M. Steenland purchased 4,800 shares of the stock in a transaction dated Friday, May 4th. The shares were bought 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 owns 3,510 shares of the company’s stock, valued at $182,730.60. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas B. Leonardi purchased 2,500 shares of the stock in a transaction dated Friday, May 4th. The shares were acquired at an average cost of $51.55 per share, for a total transaction of $128,875.00. Following the completion of the acquisition, the insider now directly owns 2,500 shares of the company’s stock, valued at approximately $128,875. The disclosure for this purchase can be found here. Company insiders own 0.05% of the company’s stock.
About American International Group
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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