Bank of New York Mellon Corp Has $660.85 Million Stock Position in American International Group, Inc. $AIG

Bank of New York Mellon Corp reduced its holdings in shares of American International Group, Inc. (NYSE:AIG) by 23.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,414,159 shares of the insurance provider’s stock after selling 2,527,179 shares during the quarter. Bank of New York Mellon Corp owned 1.52% of American International Group worth $660,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Monument Capital Management boosted its stake in shares of American International Group by 3.5% in the 2nd quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock valued at $328,000 after purchasing an additional 129 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after buying an additional 130 shares in the last quarter. First Bank & Trust grew its stake in shares of American International Group by 2.2% during the third quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after buying an additional 131 shares during the last quarter. Finally, Segment Wealth Management LLC increased its holdings in shares of American International Group by 5.7% during the second quarter. Segment Wealth Management LLC now owns 2,508 shares of the insurance provider’s stock worth $215,000 after buying an additional 135 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on American International Group from $91.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. The Goldman Sachs Group lifted their price target on American International Group from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Wells Fargo & Company boosted their price target on American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Jefferies Financial Group boosted their target price on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Barclays dropped their price target on shares of American International Group from $88.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.42.

American International Group Stock Down 0.6%

American International Group stock opened at $73.39 on Thursday. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.56 and a beta of 0.62. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50 day moving average price of $78.96 and a two-hundred day moving average price of $79.21.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the prior year, the company posted $1.23 earnings per share. Equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. American International Group’s dividend payout ratio (DPR) is 32.73%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.