HM Payson & Co. bought a new position in American International Group Inc (NYSE:AIG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 89,828 shares of the insurance provider’s stock, valued at approximately $4,782,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Advisors Asset Management Inc. lifted its stake in American International Group by 4,404.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,892 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 1,850 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in American International Group in the 2nd quarter worth approximately $115,000. Zions Bancorporation purchased a new stake in American International Group in the 3rd quarter worth approximately $124,000. Financial Engines Advisors L.L.C. lifted its stake in American International Group by 350.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 2,890 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Integrated Investment Consultants LLC lifted its stake in American International Group by 3,312.4% in the 2nd quarter. Integrated Investment Consultants LLC now owns 3,037 shares of the insurance provider’s stock worth $161,000 after purchasing an additional 2,948 shares in the last quarter. Institutional investors and hedge funds own 89.34% of the company’s stock.
Shares of NYSE:AIG traded down $0.24 during trading on Friday, reaching $43.20. The company had a trading volume of 108,635 shares, compared to its average volume of 7,058,521. The firm has a market capitalization of $39.21 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.55 and a beta of 1.46. American International Group Inc has a 12 month low of $39.29 and a 12 month high of $65.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.26 and a quick ratio of 0.26.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Wednesday, December 12th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Tuesday, December 11th. American International Group’s dividend payout ratio is currently 53.33%.
AIG has been the topic of several recent analyst reports. ValuEngine cut shares of American International Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. JPMorgan Chase & Co. set a $63.00 price target on shares of American International Group and gave the stock a “hold” rating in a report on Sunday, August 5th. Zacks Investment Research raised shares of American International Group from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Argus decreased their price target on shares of American International Group from $63.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Finally, Morgan Stanley set a $65.00 price target on shares of American International Group and gave the stock a “buy” rating in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $60.02.
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American International Group Company 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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