Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in American International Group, Inc. (NYSE:AIG) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,752 shares of the insurance provider’s stock after selling 1,781 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in American International Group were worth $8,457,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. First Capital Advisors Group LLC. bought a new position in shares of American International Group during the 3rd quarter worth about $200,000. Beaumont Financial Partners LLC lifted its holdings in American International Group by 52.5% during the 3rd quarter. Beaumont Financial Partners LLC now owns 192,721 shares of the insurance provider’s stock valued at $11,831,000 after purchasing an additional 66,371 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in American International Group by 0.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 732,838 shares of the insurance provider’s stock valued at $44,989,000 after purchasing an additional 6,730 shares during the last quarter. Cumberland Partners Ltd increased its position in American International Group by 3.2% in the 3rd quarter. Cumberland Partners Ltd now owns 240,517 shares of the insurance provider’s stock valued at $14,765,000 after acquiring an additional 7,400 shares in the last quarter. Finally, Channing Capital Management LLC increased its position in American International Group by 25.2% in the 3rd quarter. Channing Capital Management LLC now owns 133,169 shares of the insurance provider’s stock valued at $8,175,000 after acquiring an additional 26,837 shares in the last quarter. 83.52% of the stock is owned by hedge funds and other institutional investors.
American International Group, Inc. (NYSE AIG) traded down $0.54 on Wednesday, reaching $61.46. 6,799,900 shares of the company traded hands, compared to its average volume of 5,938,173. The company has a market capitalization of $55,735.48, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.26 and a quick ratio of 0.26. American International Group, Inc. has a 1-year low of $57.90 and a 1-year high of $67.47.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($2.45). The business had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.05 billion. American International Group had a negative net margin of 5.07% and a positive return on equity of 3.43%. During the same quarter last year, the business earned $1.23 EPS. sell-side analysts anticipate that American International Group, Inc. will post 2.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, December 7th. American International Group’s dividend payout ratio is presently -51.00%.
Several equities research analysts have weighed in on the stock. B. Riley restated a “neutral” rating on shares of American International Group in a research report on Monday, November 6th. Bank of America Corporation cut shares of American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price target for the company. in a research report on Friday, November 3rd. Zacks Investment Research cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Wells Fargo & Company set a $75.00 price objective on shares of American International Group and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Barclays PLC decreased their price objective on shares of American International Group from $74.00 to $71.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $68.18.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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