Personal CFO Solutions LLC purchased a new position in shares of American International Group, Inc. (NYSE:AIG – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,382 shares of the insurance provider’s stock, valued at approximately $310,000.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of American International Group by 4.7% in the 1st quarter. BlackRock Inc. now owns 66,444,103 shares of the insurance provider’s stock valued at $3,346,125,000 after purchasing an additional 2,967,775 shares during the last quarter. Wellington Management Group LLP increased its holdings in American International Group by 30.4% in the 1st quarter. Wellington Management Group LLP now owns 31,807,640 shares of the insurance provider’s stock worth $1,601,833,000 after purchasing an additional 7,413,947 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of American International Group by 12.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 16,061,829 shares of the insurance provider’s stock valued at $808,874,000 after purchasing an additional 1,737,362 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of American International Group by 27.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 15,156,369 shares of the insurance provider’s stock worth $763,275,000 after purchasing an additional 3,243,870 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of American International Group by 1.4% in the first quarter. Geode Capital Management LLC now owns 13,407,381 shares of the insurance provider’s stock valued at $673,990,000 after buying an additional 180,340 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.
American International Group Stock Up 0.6 %
American International Group stock opened at $64.48 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $61.64 and its two-hundred day moving average price is $58.78. The firm has a market capitalization of $45.27 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.03. American International Group, Inc. has a 1-year low of $45.66 and a 1-year high of $64.94.
American International Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, December 13th. This represents a $1.44 annualized dividend and a yield of 2.23%. American International Group’s dividend payout ratio (DPR) is currently 27.59%.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of American International Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Royal Bank of Canada raised their target price on American International Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Deutsche Bank Aktiengesellschaft started coverage on American International Group in a research note on Wednesday, October 4th. They issued a “buy” rating and a $79.00 price target for the company. BMO Capital Markets reduced their target price on American International Group from $69.00 to $68.00 and set a “market perform” rating on the stock in a report on Tuesday, October 10th. Finally, Wells Fargo & Company raised their price target on shares of American International Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 17th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.71.
Insider Activity at American International Group
In other American International Group news, major shareholder International Group American sold 50,000,000 shares of American International Group stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the transaction, the insider now directly owns 365,413,892 shares of the company’s stock, valued at approximately $7,490,984,786. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.
About American International Group
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through General Insurance, and Life and Retirement segments. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.
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