TD Asset Management Inc. raised its holdings in shares of American International Group Inc (NYSE:AIG) by 65.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,753,723 shares of the insurance provider’s stock after buying an additional 1,092,328 shares during the period. TD Asset Management Inc. owned about 0.32% of American International Group worth $146,719,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AIG. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of American International Group in the first quarter valued at approximately $29,000. Clean Yield Group purchased a new stake in shares of American International Group in the second quarter valued at approximately $40,000. Rational Advisors LLC purchased a new stake in shares of American International Group in the first quarter valued at approximately $45,000. Private Ocean LLC purchased a new stake in shares of American International Group in the second quarter valued at approximately $53,000. Finally, Exane Derivatives purchased a new stake in shares of American International Group in the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 89.88% of the company’s stock.
In other news, Director Therese M. Vaughan bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $51.71 per share, with a total value of $51,710.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $51,710. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is owned by corporate insiders.
American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.26. The business had revenue of $12.16 billion for the quarter, compared to the consensus estimate of $12.07 billion. American International Group had a positive return on equity of 3.04% and a negative net margin of 0.24%. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, equities research analysts forecast that American International Group Inc will post 5.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 17th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is 109.40%.
A number of equities analysts recently commented on AIG shares. Zacks Investment Research downgraded shares of American International Group from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a research note on Thursday, August 8th. Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Sunday, July 7th. Barclays boosted their price objective on shares of American International Group from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Bank of America reissued a “buy” rating and issued a $56.00 price objective (up previously from $50.00) on shares of American International Group in a research note on Tuesday, May 7th. Finally, Evercore ISI reissued a “hold” rating and issued a $53.00 price objective on shares of American International Group in a research note on Sunday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.03.
About American International Group
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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