Bayesian Capital Management LP Invests $269,000 in American International Group, Inc. (AIG) Stock
Bayesian Capital Management LP acquired a new position in American International Group, Inc. (NYSE:AIG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,300 shares of the insurance provider’s stock, valued at approximately $269,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners raised its holdings in shares of American International Group by 262.4% during the second quarter. Boston Partners now owns 6,861,857 shares of the insurance provider’s stock valued at $429,003,000 after acquiring an additional 4,968,504 shares in the last quarter. Prudential Financial Inc. lifted its stake in American International Group by 202.5% in the second quarter. Prudential Financial Inc. now owns 4,009,199 shares of the insurance provider’s stock worth $250,655,000 after acquiring an additional 2,683,775 shares during the period. Renaissance Technologies LLC purchased a new stake in American International Group in the second quarter worth $134,359,000. TIAA CREF Investment Management LLC lifted its stake in American International Group by 27.1% in the second quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock worth $616,283,000 after acquiring an additional 2,103,522 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in American International Group by 12.6% in the second quarter. Canada Pension Plan Investment Board now owns 11,631,827 shares of the insurance provider’s stock valued at $727,222,000 after acquiring an additional 1,300,900 shares in the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, July 5th. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a research note on Wednesday, July 5th. BidaskClub lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 price objective on shares of American International Group in a research report on Thursday, August 3rd. Finally, Atlantic Securities downgraded American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $68.31.
Shares of American International Group, Inc. (NYSE AIG) opened at 61.86 on Tuesday. American International Group, Inc. has a 52-week low of $57.35 and a 52-week high of $67.47. The stock’s market cap is $55.88 billion. The company’s 50-day moving average price is $60.71 and its 200-day moving average price is $62.20.
American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.33. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, equities research analysts forecast that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. American International Group’s dividend payout ratio is currently -711.07%.
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American International Group Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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