Orbis Allan Gray Ltd Has $260.82 Million Position in American International Group, Inc. (AIG)
Orbis Allan Gray Ltd boosted its stake in American International Group, Inc. (NYSE:AIG) by 19.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,171,820 shares of the insurance provider’s stock after purchasing an additional 674,670 shares during the period. American International Group comprises approximately 1.6% of Orbis Allan Gray Ltd’s investment portfolio, making the stock its 25th biggest position. Orbis Allan Gray Ltd owned approximately 0.46% of American International Group worth $260,823,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Garner Asset Management Corp acquired a new stake in American International Group in the second quarter valued at $359,000. Clinton Group Inc. lifted its holdings in American International Group by 13.2% during the 2nd quarter. Clinton Group Inc. now owns 25,137 shares of the insurance provider’s stock worth $1,572,000 after buying an additional 2,926 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new position in American International Group during the 2nd quarter worth about $229,000. Tudor Investment Corp ET AL lifted its holdings in American International Group by 53.0% during the 2nd quarter. Tudor Investment Corp ET AL now owns 92,257 shares of the insurance provider’s stock worth $5,768,000 after buying an additional 31,951 shares during the period. Finally, First Allied Advisory Services Inc. lifted its holdings in American International Group by 4.4% during the 2nd quarter. First Allied Advisory Services Inc. now owns 7,541 shares of the insurance provider’s stock worth $472,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 83.98% of the company’s stock.
A number of research firms have commented on AIG. Wells Fargo & Company reiterated a “buy” rating and issued a $75.00 price target on shares of American International Group in a research report on Sunday. Buckingham Research began 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. Deutsche Bank AG restated 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. UBS AG cut their price objective on American International Group from $65.00 to $64.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 19th. Finally, Atlantic Securities lowered American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. American International Group presently has an average rating of “Hold” and a consensus target price of $68.31.
Shares of American International Group, Inc. (AIG) traded down 0.68% during mid-day trading on Tuesday, reaching $61.44. The company had a trading volume of 1,103,162 shares. The firm has a 50-day moving average of $60.71 and a 200-day moving average of $62.20. The company’s market capitalization is $55.51 billion. American International Group, Inc. has a 12-month low of $57.35 and a 12-month high of $67.47.
American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 2.07%. American International Group’s dividend payout ratio (DPR) is presently -711.07%.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/orbis-allan-gray-ltd-has-260-82-million-position-in-american-international-group-inc-aig/1605641.html.
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.
Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG).
Receive News & Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.