B. Metzler seel. Sohn & Co. AG raised its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 84.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,506 shares of the insurance provider's stock after purchasing an additional 15,825 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in American International Group were worth $2,572,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AIG. Ceredex Value Advisors LLC bought a new position in shares of American International Group during the second quarter valued at about $21,953,000. Algebris UK Ltd. grew its stake in shares of American International Group by 98.4% in the second quarter. Algebris UK Ltd. now owns 1,235,231 shares of the insurance provider's stock worth $91,772,000 after purchasing an additional 612,790 shares during the last quarter. West Family Investments Inc. purchased a new position in American International Group during the 2nd quarter valued at about $605,000. NewEdge Wealth LLC increased its holdings in American International Group by 36.4% during the 2nd quarter. NewEdge Wealth LLC now owns 6,425 shares of the insurance provider's stock valued at $479,000 after purchasing an additional 1,714 shares during the period. Finally, Essential Partners LLC raised its position in American International Group by 9,057.1% during the 2nd quarter. Essential Partners LLC now owns 1,282 shares of the insurance provider's stock valued at $96,000 after purchasing an additional 1,268 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.
Insider Activity at American International Group
In other news, insider Peter Zaffino sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the transaction, the insider directly owned 592,833 shares of the company's stock, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.
American International Group Price Performance
Shares of NYSE:AIG opened at $76.30 on Friday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The business has a 50-day simple moving average of $77.69 and a two-hundred day simple moving average of $76.96. 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 market cap of $39.90 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.53.
American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. On average, analysts expect that American International Group, Inc. will post 8.02 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. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group's dividend payout ratio (DPR) is 36.56%.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Citigroup raised their price target on American International Group from $85.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. UBS Group upped their price objective on shares of American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. HSBC dropped their target price on shares of American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Finally, Royal Bank Of Canada boosted their price target on shares of American International Group from $85.00 to $87.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $88.28.
Check Out Our Latest Stock Analysis on American International Group
American International Group Profile
(
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.
Further Reading
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 - Free Report).
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