Los Angeles Capital Management & Equity Research Inc. trimmed its stake in shares of American International Group Inc (NYSE:AIG) by 95.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,150 shares of the insurance provider’s stock after selling 140,090 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in American International Group were worth $242,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc grew its position in American International Group by 0.3% in the third quarter. Vanguard Group Inc now owns 66,104,610 shares of the insurance provider’s stock valued at $3,519,409,000 after purchasing an additional 225,775 shares in the last quarter. FMR LLC grew its position in American International Group by 25.1% in the third quarter. FMR LLC now owns 28,305,780 shares of the insurance provider’s stock valued at $1,506,999,000 after purchasing an additional 5,684,245 shares in the last quarter. Boston Partners grew its position in American International Group by 13.7% in the fourth quarter. Boston Partners now owns 14,867,095 shares of the insurance provider’s stock valued at $585,912,000 after purchasing an additional 1,797,115 shares in the last quarter. Macquarie Group Ltd. grew its position in American International Group by 5.1% in the third quarter. Macquarie Group Ltd. now owns 13,378,172 shares of the insurance provider’s stock valued at $712,255,000 after purchasing an additional 644,330 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in American International Group by 4,353.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,224,577 shares of the insurance provider’s stock valued at $336,000 after purchasing an additional 12,927,638 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
A number of research firms recently weighed in on AIG. ValuEngine raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Thursday, December 20th. Argus downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Credit Suisse Group began coverage on shares of American International Group in a research report on Tuesday, February 5th. They issued a “neutral” rating and a $46.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 target price on shares of American International Group in a research report on Friday, December 7th. They noted that the move was a valuation call. Finally, Wells Fargo & Co decreased their target price on shares of American International Group from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, December 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.77.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, February 13th. The insurance provider reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.10). American International Group had a negative net margin of 0.01% and a positive return on equity of 1.76%. The firm had revenue of $12.33 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the business earned $0.57 EPS. On average, research analysts forecast that American International Group Inc will post 4.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, March 14th. American International Group’s dividend payout ratio (DPR) is presently 109.40%.
American International Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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American International Group 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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