Bp Plc raised its position in American International Group Inc (NYSE:AIG) by 126.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,000 shares of the insurance provider’s stock after acquiring an additional 63,000 shares during the quarter. Bp Plc’s holdings in American International Group were worth $6,017,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. ARGA Investment Management LP lifted its stake in shares of American International Group by 13.9% during the 3rd quarter. ARGA Investment Management LP now owns 93,099 shares of the insurance provider’s stock worth $4,957,000 after buying an additional 11,350 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of American International Group by 16.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 57,732 shares of the insurance provider’s stock worth $3,060,000 after buying an additional 8,141 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of American International Group during the 3rd quarter worth about $163,000. OLD National Bancorp IN lifted its stake in shares of American International Group by 92.7% during the 2nd quarter. OLD National Bancorp IN now owns 17,912 shares of the insurance provider’s stock worth $950,000 after buying an additional 8,617 shares during the last quarter. Finally, Natixis lifted its stake in shares of American International Group by 21.8% during the 2nd quarter. Natixis now owns 579,388 shares of the insurance provider’s stock worth $30,719,000 after buying an additional 103,813 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.
NYSE:AIG opened at $44.13 on Tuesday. American International Group Inc has a 52 week low of $39.29 and a 52 week high of $65.05. The stock has a market cap of $38.45 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.28 and a current ratio of 0.28.
American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.40). American International Group had a positive return on equity of 3.38% and a negative net margin of 12.73%. The business had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same period in the prior year, the business posted ($1.22) earnings per share. Equities research analysts anticipate that American International Group Inc will post 2.9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Wednesday, December 12th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Tuesday, December 11th. American International Group’s dividend payout ratio is 53.33%.
AIG has been the subject of a number of research reports. Morgan Stanley set a $65.00 target price on shares of American International Group and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Wells Fargo & Co restated a “buy” rating and set a $62.00 target price on shares of American International Group in a research note on Monday, October 29th. Deutsche Bank upgraded shares of American International Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Argus cut their target price on shares of American International Group from $58.00 to $50.00 and set a “buy” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. set a $55.00 target price on shares of American International Group and gave the stock a “hold” rating in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. American International Group presently has an average rating of “Buy” and a consensus price target of $61.64.
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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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