Elm Ridge Management LLC Has $10.55 Million Position in American International Group Inc (AIG)
Elm Ridge Management LLC lowered its position in American International Group Inc (NYSE:AIG) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,869 shares of the insurance provider’s stock after selling 34,618 shares during the quarter. American International Group makes up about 4.4% of Elm Ridge Management LLC’s portfolio, making the stock its 7th biggest position. Elm Ridge Management LLC’s holdings in American International Group were worth $10,551,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AIG. Bank of Nova Scotia Trust Co. purchased a new stake in American International Group during the third quarter worth $109,000. Peddock Capital Advisors LLC lifted its holdings in American International Group by 100.0% during the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock worth $159,000 after buying an additional 1,271 shares during the period. Rational Advisors LLC lifted its holdings in American International Group by 100.0% during the third quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock worth $184,000 after buying an additional 1,500 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in American International Group by 30.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock worth $192,000 after buying an additional 716 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new stake in American International Group during the third quarter worth $200,000. 86.10% of the stock is currently owned by institutional investors.
Shares of American International Group Inc (NYSE:AIG) opened at $58.97 on Thursday. American International Group Inc has a twelve month low of $57.90 and a twelve month high of $67.47. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $53,874.64, a price-to-earnings ratio of 23.88, a PEG ratio of 1.98 and a beta of 1.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.28 annualized dividend and a dividend yield of 2.17%. American International Group’s dividend payout ratio is presently -51.00%.
A number of analysts have weighed in on AIG shares. BidaskClub lowered American International Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Royal Bank of Canada restated a “buy” rating and set a $73.00 target price on shares of American International Group in a report on Wednesday, September 6th. Buckingham Research started coverage on American International Group in a report on Monday, September 11th. They set an “underperform” rating and a $52.00 target price for the company. UBS lowered their target price on American International Group from $65.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, September 19th. Finally, Wells Fargo & Company restated a “buy” rating and set a $75.00 target price on shares of American International Group in a report on Sunday, October 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $67.70.
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About American International Group
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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