Actinver Wealth Management Inc. bought a new stake in shares of American International Group Inc (NYSE:AIG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,203 shares of the insurance provider’s stock, valued at approximately $450,000.
Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of American International Group by 26.9% in the 3rd quarter. First Trust Advisors LP now owns 25,493 shares of the insurance provider’s stock valued at $1,357,000 after buying an additional 5,406 shares during the period. Cpwm LLC acquired a new position in shares of American International Group in the 3rd quarter valued at about $714,000. Laurion Capital Management LP lifted its holdings in shares of American International Group by 87.7% in the 3rd quarter. Laurion Capital Management LP now owns 17,641 shares of the insurance provider’s stock valued at $939,000 after buying an additional 8,241 shares during the period. Capital International Investors acquired a new position in shares of American International Group in the 3rd quarter valued at about $698,240,000. Finally, Pacer Advisors Inc. raised its holdings in American International Group by 14.0% in the 3rd quarter. Pacer Advisors Inc. now owns 47,387 shares of the insurance provider’s stock worth $2,523,000 after purchasing an additional 5,814 shares during the period. 90.89% of the stock is owned by institutional investors and hedge funds.
NYSE:AIG traded up $0.86 during trading hours on Friday, hitting $46.05. 3,008,123 shares of the stock were exchanged, compared to its average volume of 5,219,350. American International Group Inc has a 52-week low of $36.16 and a 52-week high of $56.79. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.60. The firm has a market cap of $39.99 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.78%. American International Group’s dividend payout ratio (DPR) is presently 109.40%.
American International Group announced that its board has initiated a share repurchase plan on Wednesday, February 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
AIG has been the subject of a number of analyst reports. ValuEngine cut American International Group from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Credit Suisse Group initiated coverage on American International Group in a report on Tuesday, February 5th. They issued a “neutral” rating and a $46.00 price target for the company. Compass Point raised American International Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $56.00 in a report on Friday, February 15th. Argus cut American International Group from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Finally, Bank of America reaffirmed a “buy” rating and issued a $46.00 price target on shares of American International Group in a report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.07.
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.
Further Reading: Fiduciary
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