Virtu Financial LLC grew its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 237.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,012 shares of the insurance provider's stock after purchasing an additional 10,559 shares during the quarter. Virtu Financial LLC's holdings in American International Group were worth $1,305,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors lifted its stake in shares of American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock worth $2,540,050,000 after purchasing an additional 482,724 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock worth $974,840,000 after acquiring an additional 1,901,998 shares during the last quarter. Northern Trust Corp increased its position in shares of American International Group by 16.9% during the fourth quarter. Northern Trust Corp now owns 7,258,648 shares of the insurance provider's stock worth $528,430,000 after acquiring an additional 1,050,228 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of American International Group by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,915,405 shares of the insurance provider's stock worth $503,437,000 after acquiring an additional 143,046 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of American International Group by 12.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,813,138 shares of the insurance provider's stock worth $350,396,000 after acquiring an additional 519,715 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AIG. Cfra Research raised American International Group to a "moderate buy" rating in a research report on Monday. Wall Street Zen raised American International Group from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays boosted their price objective on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Citigroup started coverage on American International Group in a report on Wednesday. They issued a "neutral" rating and a $85.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, American International Group currently has an average rating of "Moderate Buy" and an average target price of $87.75.
Check Out Our Latest Research Report on AIG
American International Group Trading Up 1.8%
Shares of NYSE AIG traded up $1.43 during midday trading on Wednesday, reaching $79.91. 4,293,698 shares of the stock were exchanged, compared to its average volume of 4,360,877. The business has a 50-day simple moving average of $82.15 and a two-hundred day simple moving average of $81.26. The company has a market capitalization of $44.27 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 0.85 and a beta of 0.63. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63.
American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the firm posted $1.16 earnings per share. As a group, equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.
American International Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group's payout ratio is currently 34.09%.
About American International Group
(
Free Report)
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.
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