Diversified Trust Co raised its stake in American International Group, Inc. (NYSE:AIG – Get Rating) by 28.6% in the second quarter, Holdings Channel reports. The fund owned 8,192 shares of the insurance provider’s stock after purchasing an additional 1,822 shares during the quarter. Diversified Trust Co’s holdings in American International Group were worth $419,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AIG. Riverview Trust Co bought a new position in shares of American International Group in the first quarter worth about $27,000. Clearstead Advisors LLC bought a new position in shares of American International Group in the fourth quarter worth about $29,000. J.W. Cole Advisors Inc. acquired a new position in shares of American International Group in the first quarter valued at approximately $38,000. Chilton Capital Management LLC acquired a new position in shares of American International Group in the fourth quarter valued at approximately $39,000. Finally, Tcwp LLC acquired a new position in shares of American International Group in the first quarter valued at approximately $40,000. Institutional investors own 90.18% of the company’s stock.
Insiders Place Their Bets
In other American International Group news, major shareholder International Group American sold 80,000,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $1,680,000,000.00. Following the transaction, the insider now directly owns 501,145,000 shares in the company, valued at approximately $10,524,045,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Luciana Fato sold 17,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total value of $918,170.00. Following the transaction, the executive vice president now directly owns 45,444 shares in the company, valued at approximately $2,454,430.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder International Group American sold 80,000,000 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the completion of the transaction, the insider now owns 501,145,000 shares in the company, valued at $10,524,045,000. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
American International Group Stock Performance
American International Group (NYSE:AIG – Get Rating) last released its earnings results on Monday, August 8th. The insurance provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). American International Group had a net margin of 22.23% and a return on equity of 7.12%. During the same quarter last year, the company posted $1.52 EPS. Research analysts anticipate that American International Group, Inc. will post 5.03 earnings per share for the current year.
American International Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, September 15th. American International Group’s payout ratio is 8.40%.
Analyst Ratings Changes
Several research analysts have recently issued reports on AIG shares. Barclays lowered their price objective on American International Group from $63.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. StockNews.com downgraded American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 2nd. Finally, Credit Suisse Group upped their price objective on American International Group from $50.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.29.
American International Group Profile
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides 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.
- Get a free copy of the StockNews.com research report on American International Group (AIG)
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