IBM Retirement Fund Has $948,000 Stake in American International Group Inc (AIG)
IBM Retirement Fund cut its position in American International Group Inc (NYSE:AIG) by 88.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,386 shares of the insurance provider’s stock after selling 84,534 shares during the period. IBM Retirement Fund’s holdings in American International Group were worth $948,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in American International Group during the fourth quarter worth about $531,208,000. FMR LLC boosted its position in American International Group by 67.3% in the fourth quarter. FMR LLC now owns 14,281,652 shares of the insurance provider’s stock worth $932,734,000 after buying an additional 5,745,079 shares in the last quarter. Paulson & CO. Inc. bought a new position in American International Group during the fourth quarter worth about $314,099,000. Russell Investments Group Ltd. bought a new position in American International Group during the fourth quarter worth about $140,778,000. Finally, Old Mutual Global Investors UK Ltd. boosted its position in American International Group by 450.2% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,166,582 shares of the insurance provider’s stock worth $135,259,000 after buying an additional 1,772,801 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.
American International Group Inc (NYSE AIG) traded down 0.41% during mid-day trading on Friday, reaching $63.40. 1,139,321 shares of the company traded hands. The stock’s 50 day moving average price is $61.98 and its 200 day moving average price is $63.54. American International Group Inc has a 52 week low of $48.41 and a 52 week high of $67.47. The firm has a market capitalization of $58.69 billion, a price-to-earnings ratio of 128.86 and a beta of 1.32. American International Group also saw some unusual options trading activity on Thursday. Investors purchased 6,697 put options on the stock. This is an increase of 161% compared to the typical daily volume of 2,569 put options.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.25. The company had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $11 billion. American International Group had a net margin of 0.66% and a return on equity of 1.82%. During the same period in the previous year, the company posted $0.65 EPS. Equities analysts forecast that American International Group Inc will post $5.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 12th. This represents a $1.28 annualized dividend and a yield of 2.01%. American International Group’s dividend payout ratio is currently 290.92%.
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AIG has been the subject of a number of research analyst reports. Deutsche Bank AG cut shares of American International Group from a “hold” rating to a “sell” rating and decreased their price target for the stock from $6.00 to $5.00 in a report on Monday, March 13th. Wells Fargo & Co reaffirmed a “hold” rating on shares of American International Group in a report on Friday, March 24th. JPMorgan Chase & Co. decreased their price target on shares of American International Group from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, April 3rd. Vetr raised shares of American International Group from a “buy” rating to a “strong-buy” rating and set a $72.50 price target for the company in a report on Tuesday, March 28th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of American International Group in a report on Monday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $64.58.
In other news, CEO Brian Duperreault acquired 80,000 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were bought at an average cost of $61.48 per share, with a total value of $4,918,400.00. Following the purchase, the chief executive officer now owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.04% of the company’s stock.
American International Group Company 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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