Starr International Co. Inc. lowered its holdings in American International Group Inc (NYSE:AIG) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 78,164 shares of the insurance provider’s stock after selling 1,101 shares during the quarter. American International Group makes up about 1.9% of Starr International Co. Inc.’s investment portfolio, making the stock its 21st largest holding. Starr International Co. Inc.’s holdings in American International Group were worth $4,354,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in American International Group by 62.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 69,649,901 shares of the insurance provider’s stock worth $3,710,946,000 after buying an additional 26,800,863 shares during the period. Vanguard Group Inc. lifted its holdings in American International Group by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 67,949,027 shares of the insurance provider’s stock worth $3,620,325,000 after buying an additional 451,770 shares during the period. Bank of New York Mellon Corp lifted its holdings in American International Group by 12.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,218,437 shares of the insurance provider’s stock worth $650,999,000 after buying an additional 1,343,572 shares during the period. Northern Trust Corp lifted its holdings in American International Group by 0.3% in the 2nd quarter. Northern Trust Corp now owns 10,563,582 shares of the insurance provider’s stock worth $562,828,000 after buying an additional 29,557 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in American International Group by 39.7% in the 1st quarter. Clearbridge Investments LLC now owns 10,351,337 shares of the insurance provider’s stock worth $445,729,000 after buying an additional 2,943,241 shares during the period. Institutional investors and hedge funds own 90.97% of the company’s stock.
Shares of American International Group stock traded up $0.36 on Friday, reaching $54.42. The company’s stock had a trading volume of 4,471,488 shares, compared to its average volume of 3,662,925. The company has a market capitalization of $47.74 billion, a price-to-earnings ratio of 46.51, a P/E/G ratio of 1.02 and a beta of 1.19. The firm’s fifty day simple moving average is $54.80 and its two-hundred day simple moving average is $52.21. American International Group Inc has a 52 week low of $36.16 and a 52 week high of $58.66. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.55.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Monday, September 16th. American International Group’s payout ratio is 109.40%.
In other American International Group news, CEO Seraina Macia sold 7,550 shares of American International Group stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $56.00, for a total value of $422,800.00. Following the completion of the sale, the chief executive officer now owns 11,055 shares of the company’s stock, valued at approximately $619,080. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on AIG shares. Wells Fargo & Co reiterated a “buy” rating and issued a $64.00 price objective on shares of American International Group in a report on Thursday, September 19th. Evercore ISI restated a “hold” rating and issued a $53.00 target price on shares of American International Group in a research note on Sunday, August 11th. Royal Bank of Canada raised their target price on American International Group to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley restated a “buy” rating and issued a $63.00 target price on shares of American International Group in a research note on Monday, August 12th. Finally, ValuEngine cut American International Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $57.72.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. 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, crop, and marine insurance.
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