Eaton Vance Management Raises Stock Holdings in American International Group, Inc. (NYSE:AIG)

Eaton Vance Management boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 13.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,956,085 shares of the insurance provider’s stock after purchasing an additional 225,214 shares during the quarter. Eaton Vance Management owned approximately 0.23% of American International Group worth $90,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIG. TCI Wealth Advisors Inc. lifted its position in shares of American International Group by 100.4% in the first quarter. TCI Wealth Advisors Inc. now owns 549 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 275 shares in the last quarter. Eudaimonia Partners LLC purchased a new position in shares of American International Group in the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of American International Group in the first quarter valued at approximately $28,000. Grant Street Asset Management Inc. purchased a new position in shares of American International Group in the fourth quarter valued at approximately $30,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of American International Group in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on American International Group from $39.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, April 5th. Barclays lifted their price objective on American International Group from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, May 10th. Citigroup lifted their price objective on American International Group from $43.00 to $48.00 in a research report on Wednesday, March 31st. Royal Bank of Canada lifted their price objective on American International Group from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 10th. Finally, William Blair reiterated a “market perform” rating on shares of American International Group in a research report on Monday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $47.92.

Shares of NYSE AIG opened at $48.29 on Thursday. American International Group, Inc. has a twelve month low of $25.57 and a twelve month high of $54.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.33 and a quick ratio of 0.33. The company has a fifty day moving average price of $49.68. The firm has a market capitalization of $41.44 billion, a PE ratio of -10.76, a PEG ratio of 1.04 and a beta of 1.34.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, May 5th. The insurance provider reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.08. The business had revenue of $10.62 billion during the quarter, compared to analysts’ expectations of $10.56 billion. American International Group had a positive return on equity of 4.75% and a negative net margin of 8.73%. During the same period in the previous year, the firm posted $0.12 earnings per share. As a group, analysts expect that American International Group, Inc. will post 4.55 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 29th. Investors of record on Tuesday, June 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.65%. American International Group’s dividend payout ratio (DPR) is presently 50.79%.

In related news, EVP Douglas A. Dachille sold 19,712 shares of American International Group stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $53.23, for a total value of $1,049,269.76. Following the completion of the transaction, the executive vice president now directly owns 107,159 shares in the company, valued at $5,704,073.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin T. Hogan sold 41,000 shares of American International Group stock in a transaction on Monday, May 10th. The shares were sold at an average price of $52.28, for a total value of $2,143,480.00. Following the completion of the transaction, the executive vice president now owns 165,507 shares of the company’s stock, valued at $8,652,705.96. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

About American International Group

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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