US Bancorp DE cut its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,703 shares of the insurance provider's stock after selling 36,982 shares during the quarter. US Bancorp DE's holdings in American International Group were worth $11,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of AIG. Sachetta LLC grew its position in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after acquiring an additional 249 shares in the last quarter. Barrett & Company Inc. purchased a new position in shares of American International Group during the second quarter worth approximately $35,000. Hemington Wealth Management lifted its stake in American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after purchasing an additional 142 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in American International Group in the second quarter worth $42,000. Finally, WPG Advisers LLC bought a new stake in American International Group in the first quarter worth $47,000. 90.60% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
AIG has been the subject of several analyst reports. Wall Street Zen upgraded American International Group from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. JPMorgan Chase & Co. increased their target price on American International Group from $95.00 to $97.00 and gave the company a "neutral" rating in a report on Thursday. Citigroup began coverage on shares of American International Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $89.53.
Read Our Latest Report on American International Group
American International Group Stock Performance
Shares of AIG stock opened at $81.34 on Friday. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The stock has a fifty day moving average of $79.80 and a 200 day moving average of $81.66. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $45.06 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 0.86 and a beta of 0.68.
American International Group (NYSE:AIG - Get Free Report) last posted its 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. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the business earned $1.16 EPS. As a group, research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.
American International Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 16th. 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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