American International Group Inc (AIG) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of American International Group Inc (NYSE:AIG) by 0.9% during the 2nd quarter, Holdings Channel reports. The firm owned 9,413,923 shares of the insurance provider’s stock after purchasing 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Cibc Bank USA lifted its stake in American International Group by 7.5% in the second quarter. Cibc Bank USA now owns 15,050 shares of the insurance provider’s stock valued at $798,000 after buying an additional 1,047 shares during the last quarter. State Treasurer State of Michigan lifted its stake in American International Group by 0.4% in the first quarter. State Treasurer State of Michigan now owns 264,652 shares of the insurance provider’s stock valued at $14,402,000 after buying an additional 1,100 shares during the last quarter. Raymond James Trust N.A. lifted its stake in American International Group by 17.8% in the second quarter. Raymond James Trust N.A. now owns 7,485 shares of the insurance provider’s stock valued at $396,000 after buying an additional 1,130 shares during the last quarter. Smith Salley & Associates lifted its stake in American International Group by 1.3% in the first quarter. Smith Salley & Associates now owns 92,282 shares of the insurance provider’s stock valued at $5,022,000 after buying an additional 1,203 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its stake in American International Group by 4.1% in the first quarter. EagleClaw Capital Managment LLC now owns 31,325 shares of the insurance provider’s stock valued at $1,704,000 after buying an additional 1,225 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

Shares of NYSE AIG opened at $52.10 on Tuesday. American International Group Inc has a fifty-two week low of $49.57 and a fifty-two week high of $65.55. The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The stock has a market cap of $46.39 billion, a P/E ratio of 21.72, a P/E/G ratio of 1.04 and a beta of 1.25.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $1.05 earnings per share 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 company had revenue of $11.47 billion for the quarter, compared to the consensus estimate of $11.71 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. analysts predict that American International Group Inc will post 4.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 17th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, September 14th. American International Group’s dividend payout ratio is currently 53.33%.

AIG has been the topic of a number of recent research reports. Zacks Investment Research cut American International Group from a “hold” rating to a “sell” rating in a research note on Monday, April 16th. Buckingham Research upgraded American International Group from an “underperform” rating to a “neutral” rating and raised their target price for the company from $52.00 to $55.00 in a research note on Friday, April 27th. Deutsche Bank cut their target price on American International Group from $60.00 to $58.00 and set a “hold” rating on the stock in a research note on Thursday, May 3rd. ValuEngine cut American International Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Finally, Morgan Stanley cut their target price on American International Group from $72.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, May 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $64.02.

American International Group Profile

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.

Featured Story: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group Inc (NYSE:AIG).

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

Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply