American International Group, Inc. (NYSE:AIG) Shares Purchased by CAPROCK Group Inc.

CAPROCK Group Inc. raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,946 shares of the insurance provider’s stock after purchasing an additional 443 shares during the period. CAPROCK Group Inc.’s holdings in American International Group were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Quilter Plc grew its stake in American International Group by 7.5% during the first quarter. Quilter Plc now owns 58,558 shares of the insurance provider’s stock worth $2,706,000 after buying an additional 4,063 shares during the period. FineMark National Bank & Trust purchased a new position in shares of American International Group in the first quarter valued at $223,000. King Luther Capital Management Corp boosted its stake in shares of American International Group by 10.4% in the first quarter. King Luther Capital Management Corp now owns 10,419 shares of the insurance provider’s stock valued at $481,000 after purchasing an additional 984 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of American International Group by 0.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 108,157 shares of the insurance provider’s stock valued at $4,998,000 after purchasing an additional 508 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in shares of American International Group by 84.2% in the first quarter. Cresset Asset Management LLC now owns 12,147 shares of the insurance provider’s stock valued at $561,000 after purchasing an additional 5,551 shares during the period. 89.09% of the stock is owned by hedge funds and other institutional investors.

AIG stock opened at $56.21 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.54. American International Group, Inc. has a fifty-two week low of $29.12 and a fifty-two week high of $58.86. The firm’s 50-day simple moving average is $54.67 and its 200 day simple moving average is $50.82. The stock has a market cap of $48.07 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 4th. The insurance provider reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.32. The firm had revenue of $11.99 billion during the quarter, compared to analyst estimates of $11.56 billion. American International Group had a net margin of 9.35% and a return on equity of 5.83%. Equities analysts forecast that American International Group, Inc. will post 4.92 EPS for the current fiscal year.

American International Group declared that its Board of Directors has initiated a share buyback plan on Thursday, August 5th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 14.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Thursday, September 16th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.28%. American International Group’s dividend payout ratio is presently 50.79%.

Several research analysts have recently weighed in on AIG shares. Zacks Investment Research downgraded shares of American International Group from a “strong-buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research note on Tuesday, October 5th. increased their price objective on shares of American International Group from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, June 21st. Wolfe Research began coverage on shares of American International Group in a research note on Monday, August 16th. They set an “outperform” rating and a $63.00 price objective on the stock. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a research note on Wednesday, September 8th. Finally, Wells Fargo & Company increased their price objective on shares of American International Group from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, August 9th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.15.

American International Group Company Profile

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

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