Vestmark Advisory Solutions Inc. reduced its stake in American International Group, Inc. (NYSE:AIG – Get Rating) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,352 shares of the insurance provider’s stock after selling 2,363 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in American International Group were worth $1,414,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Diamond Hill Capital Management Inc. grew its stake in shares of American International Group by 1.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 16,627,116 shares of the insurance provider’s stock worth $789,455,000 after buying an additional 173,366 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of American International Group by 0.8% during the third quarter. Pzena Investment Management LLC now owns 10,801,992 shares of the insurance provider’s stock worth $512,879,000 after purchasing an additional 89,254 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in American International Group by 7.1% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,542,900 shares of the insurance provider’s stock valued at $500,577,000 after buying an additional 694,978 shares during the last quarter. GQG Partners LLC boosted its position in American International Group by 14.4% during the 2nd quarter. GQG Partners LLC now owns 9,109,926 shares of the insurance provider’s stock worth $466,068,000 after buying an additional 1,146,973 shares during the period. Finally, First Pacific Advisors LP grew its holdings in American International Group by 1.0% during the 3rd quarter. First Pacific Advisors LP now owns 6,751,954 shares of the insurance provider’s stock worth $320,583,000 after acquiring an additional 66,652 shares during the last quarter. 89.01% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on AIG shares. Citigroup assumed coverage on American International Group in a report on Wednesday, December 14th. They issued a “buy” rating and a $72.00 price objective for the company. BMO Capital Markets assumed coverage on shares of American International Group in a research note on Thursday, January 19th. They issued a “market perform” rating and a $64.00 price objective on the stock. StockNews.com assumed coverage on shares of American International Group in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Wells Fargo & Company increased their price target on American International Group from $61.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Finally, Royal Bank of Canada boosted their price objective on American International Group from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, December 14th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus target price of $65.08.
American International Group Price Performance
American International Group (NYSE:AIG – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The insurance provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.17. American International Group had a return on equity of 7.70% and a net margin of 18.21%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.84 billion. During the same period in the prior year, the firm posted $1.58 EPS. Research analysts expect that American International Group, Inc. will post 6.22 EPS for the current fiscal year.
American International Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, March 16th. American International Group’s dividend payout ratio (DPR) is presently 10.02%.
About American International Group
American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.
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