Tiverton Asset Management LLC lessened its holdings in shares of American International Group (NYSE:AIG) by 66.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,495 shares of the insurance provider’s stock after selling 7,011 shares during the quarter. Tiverton Asset Management LLC’s holdings in American International Group were worth $190,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in AIG. Sound Shore Management Inc. CT acquired a new stake in American International Group during the 1st quarter worth $196,526,000. Orbis Allan Gray Ltd boosted its position in shares of American International Group by 39.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 8,865,081 shares of the insurance provider’s stock valued at $528,182,000 after acquiring an additional 2,510,464 shares during the last quarter. Standard Life Aberdeen plc boosted its position in shares of American International Group by 73.5% during the 4th quarter. Standard Life Aberdeen plc now owns 5,648,140 shares of the insurance provider’s stock valued at $336,588,000 after acquiring an additional 2,393,028 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of American International Group during the 1st quarter valued at about $92,514,000. Finally, Boston Partners boosted its position in shares of American International Group by 15.2% during the 4th quarter. Boston Partners now owns 9,024,337 shares of the insurance provider’s stock valued at $537,670,000 after acquiring an additional 1,188,645 shares during the last quarter. 88.84% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on the stock. Goldman Sachs raised shares of American International Group from a “neutral” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Thursday, May 10th. ValuEngine cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. Barclays reissued an “overweight” rating and set a $71.00 price target (up previously from $68.00) on shares of American International Group in a research report on Tuesday, February 20th. UBS raised shares of American International Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $53.71 to $63.00 in a research report on Thursday. Finally, Morgan Stanley lowered their price target on shares of American International Group from $72.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, May 4th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.56.
Shares of AIG opened at $55.15 on Friday. The stock has a market capitalization of $49.18 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.01 and a beta of 1.24. American International Group has a 12-month low of $49.57 and a 12-month high of $67.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.27 and a current ratio of 0.27.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.22). The company had revenue of $11.73 billion during the quarter, compared to analysts’ expectations of $11.60 billion. American International Group had a negative net margin of 13.03% and a positive return on equity of 2.65%. During the same quarter last year, the firm posted $1.36 earnings per share. analysts expect that American International Group will post 4.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Thursday, June 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, June 13th. This represents a $1.28 annualized dividend and a yield of 2.32%. American International Group’s dividend payout ratio (DPR) is currently 53.33%.
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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