Knightsbridge Asset Management LLC boosted its stake in shares of American International Group Inc (NYSE:AIG) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,243 shares of the insurance provider’s stock after purchasing an additional 3,368 shares during the period. American International Group comprises 6.6% of Knightsbridge Asset Management LLC’s portfolio, making the stock its 3rd largest holding. Knightsbridge Asset Management LLC’s holdings in American International Group were worth $9,530,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AIG. Beach Investment Management LLC. purchased a new stake in shares of American International Group during the second quarter worth $2,770,000. Global X Management Co. LLC grew its holdings in shares of American International Group by 12.2% in the second quarter. Global X Management Co. LLC now owns 9,469 shares of the insurance provider’s stock valued at $592,000 after purchasing an additional 1,026 shares during the period. Alpine Woods Capital Investors LLC acquired a new position in American International Group in the second quarter valued at about $221,000. First Personal Financial Services lifted its position in shares of American International Group by 0.6% during the second quarter. First Personal Financial Services now owns 6,256 shares of the insurance provider’s stock worth $391,000 after purchasing an additional 38 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of American International Group by 60.4% during the second quarter. Blair William & Co. IL now owns 33,009 shares of the insurance provider’s stock worth $2,064,000 after purchasing an additional 12,427 shares in the last quarter. 86.10% of the stock is owned by hedge funds and other institutional investors.
American International Group Inc (AIG) opened at $58.11 on Friday. American International Group Inc has a 12 month low of $57.85 and a 12 month high of $67.47. The company has a market capitalization of $53,029.62, a price-to-earnings ratio of 23.50, a PEG ratio of 1.95 and a beta of 1.17. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.43.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 7th. American International Group’s payout ratio is -51.00%.
Several analysts recently weighed in on AIG shares. Deutsche Bank raised shares of American International Group from a “sell” rating to a “hold” rating and raised their target price for the company from $58.00 to $59.00 in a report on Wednesday, December 6th. BidaskClub lowered shares of American International Group from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Bank of America cut their price target on American International Group from $71.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Morgan Stanley reiterated a “buy” rating on shares of American International Group in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $67.70.
COPYRIGHT VIOLATION NOTICE: This piece was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://stocknewstimes.com/2017/12/15/american-international-group-inc-aig-shares-bought-by-knightsbridge-asset-management-llc.html.
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.
Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.