Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp cut its holdings in American International Group Inc (NYSE:AIG) by 68.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,797 shares of the insurance provider’s stock after selling 356,300 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in American International Group were worth $8,578,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AIG. Macquarie Group Ltd. raised its position in American International Group by 38,370.8% in the second quarter. Macquarie Group Ltd. now owns 12,733,842 shares of the insurance provider’s stock valued at $675,148,000 after purchasing an additional 12,700,742 shares during the period. FMR LLC raised its position in American International Group by 56.3% in the second quarter. FMR LLC now owns 22,621,535 shares of the insurance provider’s stock valued at $1,199,393,000 after purchasing an additional 8,149,702 shares during the period. Boston Partners raised its position in American International Group by 82.5% in the second quarter. Boston Partners now owns 12,260,976 shares of the insurance provider’s stock valued at $650,077,000 after purchasing an additional 5,543,692 shares during the period. Point72 Asset Management L.P. raised its position in American International Group by 383.7% in the first quarter. Point72 Asset Management L.P. now owns 1,955,534 shares of the insurance provider’s stock valued at $106,420,000 after purchasing an additional 1,551,242 shares during the period. Finally, AustralianSuper Pty Ltd raised its position in American International Group by 81.1% in the second quarter. AustralianSuper Pty Ltd now owns 3,078,000 shares of the insurance provider’s stock valued at $163,196,000 after purchasing an additional 1,378,000 shares during the period. Hedge funds and other institutional investors own 89.32% of the company’s stock.
AIG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. set a $63.00 target price on American International Group and gave the company a “hold” rating in a research report on Sunday, August 5th. Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Argus cut their price objective on American International Group from $63.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. Finally, ValuEngine lowered American International Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $63.33.
American International Group (NYSE:AIG) last posted its earnings results on Thursday, August 2nd. The insurance provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.16). The business had revenue of $11.47 billion during the quarter, compared to analysts’ expectations of $11.71 billion. American International Group had a negative net margin of 13.67% and a positive return on equity of 2.03%. During the same period last year, the company earned $1.19 EPS. Analysts predict that American International Group Inc will post 4.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 17th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, September 14th. American International Group’s dividend payout ratio (DPR) is presently 53.33%.
American International Group 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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