Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,585 shares of the insurance provider's stock after purchasing an additional 1,293 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in American International Group were worth $2,791,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in American International Group in the first quarter valued at $27,000. Clearstead Advisors LLC bought a new stake in American International Group in the fourth quarter valued at $29,000. J.W. Cole Advisors Inc. bought a new stake in American International Group in the first quarter valued at $38,000. Chilton Capital Management LLC bought a new stake in American International Group in the fourth quarter valued at $39,000. Finally, Tcwp LLC bought a new stake in American International Group in the first quarter valued at $40,000. 90.18% of the stock is currently owned by institutional investors.
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Insider Buying and Selling
In related news, EVP Luciana Fato sold 17,000 shares of American International Group stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total value of $918,170.00. Following the transaction, the executive vice president now owns 45,444 shares of the company's stock, valued at approximately $2,454,430.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Luciana Fato sold 17,000 shares of American International Group stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total value of $918,170.00. Following the transaction, the executive vice president now owns 45,444 shares of the company's stock, valued at approximately $2,454,430.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder International Group American sold 80,000,000 shares of American International Group stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the completion of the transaction, the insider now directly owns 501,145,000 shares in the company, valued at approximately $10,524,045,000. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have issued reports on AIG. StockNews.com cut American International Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 2nd. Barclays lowered their price target on American International Group from $63.00 to $56.00 and set an "equal weight" rating on the stock in a report on Thursday, July 14th. Finally, Credit Suisse Group raised their price target on American International Group from $50.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, September 12th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $65.29.
American International Group Price Performance
NYSE:AIG opened at $51.21 on Friday. The business's 50-day moving average price is $53.29 and its 200 day moving average price is $56.27. The firm has a market cap of $38.94 billion, a P/E ratio of 3.36 and a beta of 1.17. American International Group, Inc. has a 52-week low of $48.40 and a 52-week high of $65.73. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.61.
American International Group (NYSE:AIG – Get Rating) last released its earnings results on Monday, August 8th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($0.02). American International Group had a return on equity of 7.12% and a net margin of 22.23%. During the same period last year, the business earned $1.52 EPS. As a group, sell-side analysts predict that American International Group, Inc. will post 5.03 earnings per share for the current fiscal year.
American International Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, September 15th. American International Group's payout ratio is currently 8.40%.
About American International Group
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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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