Algebris UK Ltd. grew its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 98.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,235,231 shares of the insurance provider's stock after purchasing an additional 612,790 shares during the quarter. American International Group comprises about 6.0% of Algebris UK Ltd.'s portfolio, making the stock its 2nd biggest position. Algebris UK Ltd. owned approximately 0.23% of American International Group worth $91,772,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of AIG. Brighton Jones LLC purchased a new position in American International Group during the fourth quarter worth about $1,091,000. Sivia Capital Partners LLC increased its position in shares of American International Group by 30.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider's stock valued at $432,000 after purchasing an additional 1,185 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in shares of American International Group during the 2nd quarter worth $217,000. Ieq Capital LLC boosted its holdings in shares of American International Group by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider's stock worth $20,958,000 after buying an additional 25,311 shares during the last quarter. Finally, HUB Investment Partners LLC purchased a new position in shares of American International Group in the 2nd quarter worth about $269,000. 90.60% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently issued reports on AIG. Barclays raised their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Morgan Stanley dropped their price target on American International Group from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on American International Group from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. BMO Capital Markets lifted their price objective on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, American International Group has an average rating of "Hold" and an average target price of $88.28.
View Our Latest Stock Analysis on AIG
Insiders Place Their Bets
In other American International Group news, insider Peter Zaffino sold 36,829 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider owned 556,004 shares in the company, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.
American International Group Trading Down 0.4%
Shares of AIG opened at $75.81 on Thursday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a 50 day moving average price of $77.67 and a 200-day moving average price of $76.96. The firm has a market cap of $39.64 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.69 and a beta of 0.53.
American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the prior year, the company posted $1.81 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 8.01 earnings per share for the current year.
American International Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group's payout ratio is presently 36.56%.
About American International Group
(
Free Report)
American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.
The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.
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