Prudential PLC lowered its holdings in American International Group Inc (NYSE:AIG) by 36.9% during the 4th quarter, HoldingsChannel reports. The fund owned 148,256 shares of the insurance provider’s stock after selling 86,595 shares during the quarter. Prudential PLC’s holdings in American International Group were worth $5,843,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Moody National Bank Trust Division purchased a new stake in shares of American International Group in the 4th quarter valued at about $27,000. CNB Bank purchased a new stake in shares of American International Group in the 4th quarter valued at about $28,000. Lindbrook Capital LLC purchased a new stake in shares of American International Group in the 4th quarter valued at about $39,000. Proficio Capital Partners LLC raised its holdings in shares of American International Group by 92.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,328 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 639 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of American International Group in the 4th quarter valued at about $106,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE AIG opened at $43.75 on Friday. The stock has a market cap of $38.07 billion, a P/E ratio of 37.39, a PEG ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.26 and a current ratio of 0.26. American International Group Inc has a 1-year low of $36.16 and a 1-year high of $56.79.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, February 13th. The insurance provider reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($1.10). The firm had revenue of $12.33 billion for the quarter, compared to analysts’ expectations of $12.13 billion. American International Group had a negative net margin of 0.01% and a positive return on equity of 1.76%. During the same period in the prior year, the business posted $0.57 earnings per share. As a group, equities analysts expect that American International Group Inc will post 4.4 earnings per share for the current year.
American International Group declared that its board has initiated a stock repurchase program on Wednesday, February 13th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.93%. American International Group’s dividend payout ratio is 109.40%.
AIG has been the topic of several recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating and issued a $54.00 price target on shares of American International Group in a report on Wednesday, February 13th. Compass Point raised American International Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $56.00 in a report on Friday, February 15th. ValuEngine cut American International Group from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Argus cut American International Group from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price objective on shares of American International Group in a report on Friday, December 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $55.77.
American International Group 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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