Hermes Investment Management Ltd. maintained its stake in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,256 shares of the insurance provider’s stock at the end of the second quarter. Hermes Investment Management Ltd.’s holdings in American International Group were worth $1,704,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Lincluden Management Ltd. boosted its stake in shares of American International Group by 4.9% in the fourth quarter. Lincluden Management Ltd. now owns 161,215 shares of the insurance provider’s stock valued at $10,529,000 after buying an additional 7,459 shares in the last quarter. Wealthfront Inc. boosted its stake in shares of American International Group by 38.3% in the fourth quarter. Wealthfront Inc. now owns 16,873 shares of the insurance provider’s stock valued at $1,102,000 after buying an additional 4,670 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of American International Group by 74.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,446,372 shares of the insurance provider’s stock valued at $225,083,000 after buying an additional 1,471,384 shares in the last quarter. Whalerock Point Partners LLC boosted its stake in shares of American International Group by 1.8% in the fourth quarter. Whalerock Point Partners LLC now owns 19,647 shares of the insurance provider’s stock valued at $1,283,000 after buying an additional 350 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of American International Group by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 3,083,144 shares of the insurance provider’s stock valued at $201,360,000 after buying an additional 102,720 shares in the last quarter. Institutional investors own 86.02% of the company’s stock.
Shares of American International Group, Inc. (NYSE:AIG) traded down 1.48% during mid-day trading on Friday, hitting $65.08. 5,074,352 shares of the stock were exchanged. The stock has a market capitalization of $60.25 billion, a P/E ratio of 132.28 and a beta of 1.14. American International Group, Inc. has a 12-month low of $56.80 and a 12-month high of $67.47. The stock’s 50 day moving average price is $63.89 and its 200-day moving average price is $63.11.
American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. American International Group had a positive return on equity of 5.95% and a negative net margin of 0.53%. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same period last year, the business earned $0.98 EPS. On average, equities research analysts expect that American International Group, Inc. will post $5.06 EPS for the current fiscal year.
American International Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio is currently -711.07%.
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Several equities research analysts have recently commented on AIG shares. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a research report on Wednesday, April 12th. Credit Suisse Group set a $72.00 price target on shares of American International Group and gave the stock a “buy” rating in a research report on Saturday, April 15th. Royal Bank Of Canada reiterated a “buy” rating and set a $71.00 price target on shares of American International Group in a research report on Monday, April 24th. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Finally, Morgan Stanley upgraded shares of American International Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $62.87 to $61.82 in a report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $65.22.
In other news, CEO Brian Duperreault bought 80,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the acquisition, the chief executive officer now directly owns 80,000 shares in the company, valued at $4,918,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by company insiders.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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