Boston Partners increased its position in shares of American International Group, Inc. (NYSE:AIG) by 262.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,861,857 shares of the insurance provider’s stock after buying an additional 4,968,504 shares during the period. Boston Partners’ holdings in American International Group were worth $429,003,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in AIG. Macquarie Group Ltd. raised its stake in shares of American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock worth $12,183,000 after buying an additional 152,647 shares during the last quarter. Private Bank & Trust Co. raised its stake in shares of American International Group by 18.5% in the first quarter. Private Bank & Trust Co. now owns 12,836 shares of the insurance provider’s stock worth $802,000 after buying an additional 2,003 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of American International Group during the first quarter worth $370,000. Atria Investments LLC raised its stake in shares of American International Group by 2.6% in the first quarter. Atria Investments LLC now owns 27,710 shares of the insurance provider’s stock worth $1,730,000 after buying an additional 694 shares during the last quarter. Finally, Eastern Bank raised its stake in shares of American International Group by 3.0% in the first quarter. Eastern Bank now owns 7,231 shares of the insurance provider’s stock worth $451,000 after buying an additional 210 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.
Shares of American International Group, Inc. (AIG) opened at 64.01 on Thursday. The firm’s 50-day moving average is $64.09 and its 200 day moving average is $63.11. The stock has a market cap of $59.26 billion, a P/E ratio of 130.10 and a beta of 1.14. American International Group, Inc. has a 52-week low of $57.35 and a 52-week high of $67.47.
American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the company earned $0.98 earnings per share. Analysts forecast that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.00%. American International Group’s dividend payout ratio (DPR) is presently -711.07%.
American International Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 3rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts recently weighed in on AIG shares. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a report on Wednesday, April 12th. Credit Suisse Group set a $72.00 price target on shares of American International Group and gave the company a “buy” rating in a report on Saturday, April 15th. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 price target on shares of American International Group in a report on Monday, April 24th. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Finally, Morgan Stanley upgraded shares of American International Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $62.87 to $61.82 in a report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. American International Group presently has a consensus rating of “Buy” and an average price target of $69.02.
In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were acquired at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the transaction, the chief executive officer now owns 80,000 shares in the company, valued at approximately $4,918,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.
American International Group Company 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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