Eagle Bay Advisors LLC boosted its position in American International Group, Inc. (NYSE:AIG – Get Rating) by 197.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 762 shares of the insurance provider’s stock after acquiring an additional 506 shares during the period. Eagle Bay Advisors LLC’s holdings in American International Group were worth $36,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its holdings in shares of American International Group by 9.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 10,936 shares of the insurance provider’s stock valued at $521,000 after purchasing an additional 969 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in American International Group during the 3rd quarter worth $3,452,000. National Pension Service grew its position in American International Group by 2.0% during the 3rd quarter. National Pension Service now owns 1,349,257 shares of the insurance provider’s stock worth $64,306,000 after acquiring an additional 26,385 shares during the last quarter. Glenmede Trust Co. NA grew its position in American International Group by 319.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 307,351 shares of the insurance provider’s stock worth $14,592,000 after acquiring an additional 234,161 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in American International Group by 5.7% during the 3rd quarter. Captrust Financial Advisors now owns 137,453 shares of the insurance provider’s stock worth $6,526,000 after acquiring an additional 7,351 shares during the last quarter. 89.01% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on AIG. Royal Bank of Canada boosted their price objective on American International Group from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 14th. Citigroup began coverage on American International Group in a report on Wednesday, December 14th. They set a “buy” rating and a $72.00 target price on the stock. Wells Fargo & Company lifted their target price on American International Group from $61.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Atlantic Securities downgraded American International Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $70.00 to $65.00 in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on American International Group in a report on Thursday. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, American International Group presently has an average rating of “Hold” and an average price target of $65.08.
American International Group Trading Up 5.3 %
American International Group (NYSE:AIG – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The insurance provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.17. American International Group had a return on equity of 7.70% and a net margin of 18.21%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.84 billion. During the same quarter last year, the firm posted $1.58 EPS. Equities research analysts predict that American International Group, Inc. will post 6.26 EPS for the current year.
American International Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, March 16th. American International Group’s dividend payout ratio (DPR) is currently 10.02%.
American International Group 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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