Mn Services Vermogensbeheer B.V. boosted its holdings in American International Group Inc (NYSE:AIG) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,064 shares of the insurance provider’s stock after buying an additional 1,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in American International Group were worth $6,548,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of AIG. Cornerstone Advisors Inc. lifted its stake in American International Group by 16.5% during the first quarter. Cornerstone Advisors Inc. now owns 2,083 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 295 shares during the last quarter. Stelac Advisory Services LLC lifted its holdings in shares of American International Group by 9.7% during the 4th quarter. Stelac Advisory Services LLC now owns 3,449 shares of the insurance provider’s stock worth $136,000 after acquiring an additional 305 shares during the period. AMG National Trust Bank lifted its holdings in shares of American International Group by 0.3% during the 1st quarter. AMG National Trust Bank now owns 123,260 shares of the insurance provider’s stock worth $5,307,000 after acquiring an additional 323 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of American International Group by 1.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 47,493 shares of the insurance provider’s stock worth $1,872,000 after acquiring an additional 555 shares during the period. Finally, BB&T Corp lifted its holdings in shares of American International Group by 5.6% during the 1st quarter. BB&T Corp now owns 11,002 shares of the insurance provider’s stock worth $473,000 after acquiring an additional 586 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on AIG shares. ValuEngine cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Credit Suisse Group began coverage on American International Group in a report on Tuesday, February 5th. They issued a “neutral” rating and a $46.00 target price on the stock. Wells Fargo & Co reiterated a “buy” rating and issued a $54.00 target price on shares of American International Group in a report on Wednesday, February 13th. Compass Point upgraded American International Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $56.00 in a research note on Friday, February 15th. Finally, Argus cut American International Group from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. American International Group has a consensus rating of “Buy” and a consensus target price of $55.50.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.52. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.25 billion. During the same period last year, the business earned $1.04 EPS. As a group, sell-side analysts forecast that American International Group Inc will post 4.89 earnings per share for the current year.
American International Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 13th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the insurance provider to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, June 13th. American International Group’s dividend payout ratio is presently 109.40%.
American International Group Company 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.
Further Reading: Derivative
Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group Inc (NYSE:AIG).
Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.