Keybank National Association OH grew its position in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 32.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,574 shares of the insurance provider’s stock after purchasing an additional 1,870 shares during the period. Keybank National Association OH’s holdings in American International Group were worth $476,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. grew its position in shares of American International Group by 2.7% during the fourth quarter. Brown Advisory Inc. now owns 73,254 shares of the insurance provider’s stock valued at $4,165,000 after purchasing an additional 1,911 shares in the last quarter. Parsons Capital Management Inc. RI grew its position in shares of American International Group by 261.9% during the fourth quarter. Parsons Capital Management Inc. RI now owns 13,383 shares of the insurance provider’s stock valued at $761,000 after purchasing an additional 9,685 shares in the last quarter. Mackenzie Financial Corp grew its position in American International Group by 17.0% in the fourth quarter. Mackenzie Financial Corp now owns 364,136 shares of the insurance provider’s stock worth $20,705,000 after acquiring an additional 53,013 shares in the last quarter. Seelaus Asset Management LLC grew its position in American International Group by 20.3% in the first quarter. Seelaus Asset Management LLC now owns 27,530 shares of the insurance provider’s stock worth $1,728,000 after acquiring an additional 4,655 shares in the last quarter. Finally, Xponance Inc. grew its position in American International Group by 21.2% in the fourth quarter. Xponance Inc. now owns 52,502 shares of the insurance provider’s stock worth $2,985,000 after acquiring an additional 9,192 shares in the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.
American International Group Stock Down 0.4 %
Shares of NYSE:AIG opened at $51.52 on Thursday. The business has a 50 day simple moving average of $54.11 and a two-hundred day simple moving average of $58.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.31 and a quick ratio of 0.31. American International Group, Inc. has a 1 year low of $44.87 and a 1 year high of $65.73. The firm has a market capitalization of $40.81 billion, a PE ratio of 4.46, a price-to-earnings-growth ratio of 0.96 and a beta of 1.25.
American International Group announced that its board has authorized a stock buyback plan on Tuesday, May 3rd that authorizes the company to buyback $6.50 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
American International Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Wednesday, June 15th. American International Group’s dividend payout ratio is presently 11.07%.
Analysts Set New Price Targets
Several research analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $81.00 price target on shares of American International Group in a research report on Tuesday, May 10th. Barclays dropped their price target on American International Group from $63.00 to $56.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. Finally, StockNews.com lowered American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.57.
American International Group Company 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.
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