Assetmark Inc. lifted its stake in American International Group, Inc. (NYSE:AIG – Free Report) by 33.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,518 shares of the insurance provider’s stock after buying an additional 15,527 shares during the period. Assetmark Inc.’s holdings in American International Group were worth $3,098,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC purchased a new position in American International Group in the fourth quarter valued at about $28,000. Thompson Investment Management Inc. acquired a new stake in American International Group during the first quarter valued at approximately $28,000. International Assets Investment Management LLC acquired a new stake in American International Group during the fourth quarter valued at approximately $29,000. Creative Capital Management Investments LLC acquired a new stake in American International Group during the first quarter valued at approximately $43,000. Finally, AM Squared Ltd acquired a new stake in American International Group during the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.
American International Group Stock Performance
Shares of NYSE AIG opened at $61.92 on Tuesday. The stock has a fifty day moving average price of $57.65 and a two-hundred day moving average price of $56.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $44.08 billion, a P/E ratio of 10.48, a PEG ratio of 0.93 and a beta of 1.13. American International Group, Inc. has a 1 year low of $45.66 and a 1 year high of $64.88.
American International Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio is presently 24.37%.
Insider Transactions at American International Group
In other news, major shareholder International Group American sold 74,750,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $16.25, for a total value of $1,214,687,500.00. Following the completion of the sale, the insider now owns 426,395,000 shares in the company, valued at $6,928,918,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder International Group American sold 74,750,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $16.25, for a total value of $1,214,687,500.00. Following the completion of the sale, the insider now owns 426,395,000 shares in the company, valued at $6,928,918,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Jurgensen sold 475 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $55.03, for a total value of $26,139.25. Following the completion of the sale, the director now owns 1,025 shares of the company’s stock, valued at approximately $56,405.75. The disclosure for this sale can be found here. Insiders sold a total of 85,732,218 shares of company stock valued at $1,394,947,575 in the last three months. 0.49% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
AIG has been the topic of several research reports. StockNews.com initiated coverage on American International Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup dropped their price target on American International Group from $71.00 to $70.00 in a research report on Tuesday, April 18th. Bank of America dropped their price target on American International Group from $73.00 to $68.00 in a research report on Friday, June 2nd. Jefferies Financial Group dropped their price target on American International Group from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, April 10th. Finally, TheStreet upgraded American International Group from a “c+” rating to a “b-” rating in a research report on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.79.
Check Out Our Latest Report on American International Group
American International Group Profile
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through General Insurance, and Life and Retirement segments. 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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