Versor Investments LP bought a new position in shares of American International Group, Inc. (NYSE:AIG – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,800 shares of the insurance provider’s stock, valued at approximately $342,000.
A number of other large investors have also modified their holdings of the business. Illinois Municipal Retirement Fund raised its stake in shares of American International Group by 40.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,204 shares of the insurance provider’s stock worth $2,276,000 after buying an additional 13,039 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of American International Group in the 1st quarter worth approximately $202,000. Cullen Frost Bankers Inc. grew its holdings in shares of American International Group by 10.1% in the 1st quarter. Cullen Frost Bankers Inc. now owns 8,870 shares of the insurance provider’s stock worth $447,000 after acquiring an additional 812 shares during the period. Artemis Investment Management LLP grew its holdings in shares of American International Group by 2.4% in the 1st quarter. Artemis Investment Management LLP now owns 96,375 shares of the insurance provider’s stock worth $4,842,000 after acquiring an additional 2,216 shares during the period. Finally, Cobblestone Capital Advisors LLC NY acquired a new stake in shares of American International Group in the 1st quarter worth approximately $231,000. 88.18% of the stock is owned by hedge funds and other institutional investors.
American International Group Price Performance
AIG stock opened at $61.92 on Tuesday. American International Group, Inc. has a 52-week low of $45.66 and a 52-week high of $64.88. The stock’s fifty day simple moving average is $57.65 and its 200-day simple moving average is $56.04. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $44.08 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13.
American International Group Announces Dividend
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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is currently 24.37%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AIG. Morgan Stanley upped their price target on American International Group from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday. StockNews.com assumed coverage on American International Group in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Citigroup lowered their target price on American International Group from $71.00 to $70.00 in a report on Tuesday, April 18th. Credit Suisse Group reiterated a “neutral” rating and set a $60.00 target price on shares of American International Group in a report on Friday, April 21st. Finally, Evercore ISI lowered their target price on American International Group from $70.00 to $63.00 and set an “in-line” rating on the stock in a report on Thursday, April 13th. Nine 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, the stock presently has an average rating of “Hold” and a consensus price target of $67.79.
View Our Latest Stock Analysis on AIG
Insider Buying and Selling
In related 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 transaction, the insider now directly owns 426,395,000 shares of the company’s stock, valued at approximately $6,928,918,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American International Group news, Director William G. Jurgensen sold 475 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $55.03, for a total value of $26,139.25. Following the transaction, the director now directly owns 1,025 shares of the company’s stock, valued at $56,405.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder International Group American sold 74,750,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $16.25, for a total value of $1,214,687,500.00. Following the completion of the transaction, the insider now directly owns 426,395,000 shares in the company, valued at $6,928,918,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,732,218 shares of company stock valued at $1,394,947,575. 0.49% of the stock is currently owned by company insiders.
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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