Pictet Asset Management Ltd. increased its position in shares of American International Group Inc (NYSE:AIG) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 446,503 shares of the insurance provider’s stock after purchasing an additional 15,000 shares during the period. Pictet Asset Management Ltd.’s holdings in American International Group were worth $23,790,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of American International Group by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 10,338,730 shares of the insurance provider’s stock worth $406,656,000 after buying an additional 655,288 shares during the period. Janus Henderson Group PLC boosted its position in shares of American International Group by 22.1% in the first quarter. Janus Henderson Group PLC now owns 268,992 shares of the insurance provider’s stock worth $11,582,000 after buying an additional 48,762 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of American International Group by 1.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 153,432 shares of the insurance provider’s stock worth $6,606,000 after buying an additional 2,626 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of American International Group by 16.5% in the first quarter. Cornerstone Advisors Inc. now owns 2,083 shares of the insurance provider’s stock worth $90,000 after buying an additional 295 shares during the period. Finally, Stephens Inc. AR boosted its position in shares of American International Group by 15.7% in the first quarter. Stephens Inc. AR now owns 25,685 shares of the insurance provider’s stock worth $1,106,000 after buying an additional 3,478 shares during the period. Institutional investors and hedge funds own 90.99% of the company’s stock.
In related news, CEO Seraina Macia sold 7,550 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $56.00, for a total transaction of $422,800.00. Following the completion of the sale, the chief executive officer now directly owns 11,055 shares in the company, valued at $619,080. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.26. American International Group had a positive return on equity of 2.97% and a negative net margin of 0.24%. The business had revenue of $12.16 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the company earned $1.05 earnings per share. As a group, equities analysts anticipate that American International Group Inc will post 5.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.24%. American International Group’s dividend payout ratio is 109.40%.
Several brokerages have recently commented on AIG. Royal Bank of Canada raised their target price on American International Group to $68.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Zacks Investment Research lowered American International Group from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a report on Thursday, August 8th. William Blair upgraded American International Group from a “market perform” rating to an “outperform” rating in a report on Thursday, July 18th. ValuEngine lowered American International Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods increased their price objective on American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Sunday, July 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $57.03.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. 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, crop, and marine insurance.
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