Gulf International Bank UK Ltd Sells 200 Shares of American International Group, Inc. (NYSE:AIG)

Gulf International Bank UK Ltd cut its holdings in shares of American International Group, Inc. (NYSE:AIGGet Rating) by 0.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 145,425 shares of the insurance provider’s stock after selling 200 shares during the period. Gulf International Bank UK Ltd’s holdings in American International Group were worth $9,128,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIG. State Street Corp raised its stake in shares of American International Group by 0.3% in the 4th quarter. State Street Corp now owns 38,742,644 shares of the insurance provider’s stock valued at $2,202,907,000 after purchasing an additional 131,235 shares during the period. Geode Capital Management LLC raised its stake in shares of American International Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 13,618,835 shares of the insurance provider’s stock valued at $772,068,000 after purchasing an additional 347,548 shares during the period. Nuveen Asset Management LLC raised its stake in shares of American International Group by 12.2% in the 4th quarter. Nuveen Asset Management LLC now owns 11,557,773 shares of the insurance provider’s stock valued at $657,176,000 after purchasing an additional 1,256,195 shares during the period. Norges Bank acquired a new stake in shares of American International Group in the 4th quarter valued at about $506,692,000. Finally, Eaton Vance Management raised its stake in shares of American International Group by 29.9% in the 4th quarter. Eaton Vance Management now owns 2,741,127 shares of the insurance provider’s stock valued at $154,872,000 after purchasing an additional 630,592 shares during the period. 92.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AIG shares. Barclays lowered their target price on American International Group from $63.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. StockNews.com downgraded American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $81.00 target price on shares of American International Group in a research report on Tuesday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.57.

American International Group Stock Performance

NYSE AIG traded down $1.87 during trading on Thursday, reaching $50.65. 196,382 shares of the company’s stock were exchanged, compared to its average volume of 3,550,988. American International Group, Inc. has a fifty-two week low of $46.18 and a fifty-two week high of $65.73. The stock has a market capitalization of $40.12 billion, a P/E ratio of 4.54, a PEG ratio of 1.01 and a beta of 1.25. The business has a 50 day moving average price of $53.41 and a 200-day moving average price of $58.10. 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 (NYSE:AIGGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. American International Group had a return on equity of 7.11% and a net margin of 18.30%. The company had revenue of $10.99 billion during the quarter, compared to analysts’ expectations of $11.43 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 3rd that permits the company to buyback $6.50 billion in shares. This buyback authorization permits the insurance provider to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, June 15th. American International Group’s dividend payout ratio is presently 11.07%.

American International Group Profile

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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.

See Also

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

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