AMP Capital Investors Ltd lowered its holdings in American International Group Inc (NYSE:AIG) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 544,517 shares of the insurance provider’s stock after selling 38,481 shares during the period. AMP Capital Investors Ltd owned about 0.06% of American International Group worth $33,428,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Capital Management LLC raised its stake in American International Group by 4.0% in the 2nd quarter. Northern Capital Management LLC now owns 46,115 shares of the insurance provider’s stock worth $2,883,000 after purchasing an additional 1,760 shares in the last quarter. Girard Partners LTD. acquired a new position in shares of American International Group in the 2nd quarter valued at approximately $215,000. Oppenheimer & Co. Inc. raised its position in shares of American International Group by 9.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,877 shares of the insurance provider’s stock valued at $5,557,000 after buying an additional 7,963 shares in the last quarter. AXA raised its position in shares of American International Group by 113.5% in the 2nd quarter. AXA now owns 411,178 shares of the insurance provider’s stock valued at $25,707,000 after buying an additional 218,583 shares in the last quarter. Finally, Connable Office Inc. bought a new stake in shares of American International Group during the 3rd quarter valued at approximately $1,563,000. 85.90% of the stock is owned by institutional investors.
AIG has been the topic of several research reports. Buckingham Research assumed coverage on shares of American International Group in a report on Monday, September 11th. They set an “underperform” rating and a $52.00 price target on the stock. Zacks Investment Research raised shares of American International Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 12th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $73.00 price objective on shares of American International Group in a research note on Wednesday, September 6th. Deutsche Bank raised shares of American International Group from a “sell” rating to a “hold” rating and upped their price objective for the company from $58.00 to $59.00 in a research note on Wednesday, December 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $74.00 price objective on shares of American International Group in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. American International Group has an average rating of “Hold” and an average target price of $67.81.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.22) EPS for the quarter, missing the consensus estimate of $1.23 by ($2.45). The firm had revenue of $12.67 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.23 EPS. analysts predict that American International Group Inc will post 2.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.28 annualized dividend and a yield of 2.15%. American International Group’s payout ratio is -51.00%.
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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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