Meridian Investment Counsel Inc. Decreases Holdings in American International Group, Inc. (AIG)
Meridian Investment Counsel Inc. reduced its stake in American International Group, Inc. (NYSE:AIG) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,641 shares of the insurance provider’s stock after selling 315 shares during the period. Meridian Investment Counsel Inc.’s holdings in American International Group were worth $228,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Garner Asset Management Corp acquired a new position in American International Group in the second quarter valued at approximately $359,000. Clinton Group Inc. boosted its stake in American International Group by 13.2% in the second quarter. Clinton Group Inc. now owns 25,137 shares of the insurance provider’s stock valued at $1,572,000 after acquiring an additional 2,926 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new position in American International Group in the second quarter valued at approximately $229,000. Tudor Investment Corp ET AL boosted its stake in American International Group by 53.0% in the second quarter. Tudor Investment Corp ET AL now owns 92,257 shares of the insurance provider’s stock valued at $5,768,000 after acquiring an additional 31,951 shares during the period. Finally, First Allied Advisory Services Inc. boosted its stake in American International Group by 4.4% in the second quarter. First Allied Advisory Services Inc. now owns 7,541 shares of the insurance provider’s stock valued at $472,000 after acquiring an additional 319 shares during the period. Institutional investors own 83.97% of the company’s stock.
A number of equities analysts have commented on the company. UBS AG decreased their target price on American International Group from $65.00 to $64.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Buckingham Research assumed coverage on American International Group in a research report on Monday, September 11th. They set an “underperform” rating and a $52.00 price objective for the company. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price objective on shares of American International Group in a research report on Wednesday, September 6th. BidaskClub downgraded American International Group from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Finally, Deutsche Bank AG reiterated a “sell” rating and set a $60.00 price objective (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.96.
Shares of American International Group, Inc. (AIG) traded up 0.69% during midday trading on Friday, reaching $61.39. The company had a trading volume of 4,337,025 shares. The firm’s 50 day moving average price is $61.67 and its 200-day moving average price is $62.35. American International Group, Inc. has a 12 month low of $57.35 and a 12 month high of $67.47. The company’s market capitalization is $55.46 billion.
American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Analysts anticipate that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.09%. American International Group’s dividend payout ratio (DPR) is currently -711.07%.
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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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