Bank of New York Mellon Corp Boosts Stake in American International Group Inc (AIG)

Bank of New York Mellon Corp grew its stake in shares of American International Group Inc (NYSE:AIG) by 0.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,413,923 shares of the insurance provider’s stock after buying an additional 81,229 shares during the period. Bank of New York Mellon Corp’s holdings in American International Group were worth $499,125,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its position in American International Group by 16.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 57,732 shares of the insurance provider’s stock worth $3,060,000 after purchasing an additional 8,141 shares during the period. OLD National Bancorp IN raised its position in American International Group by 92.7% in the 2nd quarter. OLD National Bancorp IN now owns 17,912 shares of the insurance provider’s stock worth $950,000 after purchasing an additional 8,617 shares during the period. AustralianSuper Pty Ltd raised its position in American International Group by 81.1% in the 2nd quarter. AustralianSuper Pty Ltd now owns 3,078,000 shares of the insurance provider’s stock worth $163,196,000 after purchasing an additional 1,378,000 shares during the period. Natixis raised its position in American International Group by 21.8% in the 2nd quarter. Natixis now owns 579,388 shares of the insurance provider’s stock worth $30,719,000 after purchasing an additional 103,813 shares during the period. Finally, Prana Capital Management LP raised its position in American International Group by 143.6% in the 2nd quarter. Prana Capital Management LP now owns 247,482 shares of the insurance provider’s stock worth $13,121,000 after purchasing an additional 145,868 shares during the period. Hedge funds and other institutional investors own 89.26% of the company’s stock.

A number of equities analysts recently commented on AIG shares. Deutsche Bank decreased their target price on shares of American International Group from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Monday, October 22nd. JPMorgan Chase & Co. set a $63.00 target price on shares of American International Group and gave the stock a “hold” rating in a research report on Sunday, August 5th. Zacks Investment Research upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Morgan Stanley set a $65.00 target price on shares of American International Group and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Finally, Wells Fargo & Co set a $62.00 price objective on shares of American International Group and gave the company a “buy” rating in a research report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $62.87.



AIG stock opened at $39.91 on Tuesday. American International Group Inc has a 12-month low of $39.60 and a 12-month high of $65.30. The stock has a market capitalization of $36.36 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.28 and a current ratio of 0.28.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.16). American International Group had a negative net margin of 13.67% and a positive return on equity of 2.03%. The firm had revenue of $11.47 billion during the quarter, compared to analysts’ expectations of $11.71 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, equities analysts predict that American International Group Inc will post 3.18 EPS for the current year.

About American International Group

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.

Further Reading: Relative Strength Index

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

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