TCW Group Inc. acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 406,060 shares of the insurance provider’s stock, valued at approximately $24,928,000.
Other large investors also recently made changes to their positions in the company. Northern Capital Management LLC lifted its holdings in American International Group by 4.0% in the 2nd quarter. Northern Capital Management LLC now owns 46,115 shares of the insurance provider’s stock worth $2,883,000 after purchasing an additional 1,760 shares in the last quarter. Girard Partners LTD. bought a new position in shares of American International Group during the 2nd quarter valued at approximately $215,000. Oppenheimer & Co. Inc. increased its position in shares of American International Group by 9.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,877 shares of the insurance provider’s stock valued at $5,557,000 after purchasing an additional 7,963 shares during the last quarter. AXA increased its position in shares of American International Group by 113.5% during the 2nd quarter. AXA now owns 411,178 shares of the insurance provider’s stock valued at $25,707,000 after purchasing an additional 218,583 shares during the last quarter. Finally, Allen Investment Management LLC increased its position in shares of American International Group by 126.4% during the 2nd quarter. Allen Investment Management LLC now owns 42,000 shares of the insurance provider’s stock valued at $2,626,000 after purchasing an additional 23,445 shares during the last quarter. Institutional investors own 83.52% of the company’s stock.
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American International Group, Inc. (NYSE:AIG) traded down $0.08 on Wednesday, reaching $61.38. The company’s stock had a trading volume of 1,235,668 shares, compared to its average volume of 5,938,173. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.43. The stock has a market cap of $55,735.48, a P/E ratio of 24.70, a PEG ratio of 1.92 and a beta of 1.23. American International Group, Inc. has a 12-month low of $57.90 and a 12-month high of $67.47.
American International Group (NYSE:AIG) last released its earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($2.45). American International Group had a positive return on equity of 3.43% and a negative net margin of 5.07%. The business had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.05 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. analysts predict that American International Group, Inc. will post 2.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, December 7th. American International Group’s dividend payout ratio is currently -51.00%.
Several equities analysts have commented on the company. B. Riley reaffirmed a “neutral” rating on shares of American International Group in a research report on Monday, November 6th. Bank of America Corporation downgraded American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price target on the stock. in a research report on Friday, November 3rd. Zacks Investment Research downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Wells Fargo & Company set a $75.00 price objective on American International Group and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Finally, Barclays PLC decreased their price objective on American International Group from $74.00 to $71.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.18.
American International Group 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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