Profund Advisors LLC Grows Stake in American International Group Inc (AIG)
Profund Advisors LLC lifted its holdings in American International Group Inc (NYSE:AIG) by 29.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,676 shares of the insurance provider’s stock after buying an additional 6,320 shares during the quarter. Profund Advisors LLC’s holdings in American International Group were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. acquired a new stake in shares of American International Group in the third quarter worth $109,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of American International Group in the fourth quarter worth $134,000. Chicago Partners Investment Group LLC acquired a new stake in shares of American International Group in the third quarter worth $163,000. Rational Advisors LLC increased its stake in shares of American International Group by 100.0% in the third quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock worth $184,000 after acquiring an additional 1,500 shares during the period. Finally, Investment Centers of America Inc. acquired a new stake in shares of American International Group in the third quarter worth $200,000. Hedge funds and other institutional investors own 87.34% of the company’s stock.
American International Group Inc (AIG) opened at $56.57 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.48. The stock has a market cap of $51,052.67, a price-to-earnings ratio of -8.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.23. American International Group Inc has a twelve month low of $55.07 and a twelve month high of $67.30.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, March 14th. American International Group’s payout ratio is -18.63%.
A number of analysts have recently weighed in on AIG shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $74.00 price objective on shares of American International Group in a research note on Wednesday, December 6th. Wells Fargo & Co reissued a “buy” rating on shares of American International Group in a report on Tuesday, January 2nd. Bank of America raised shares of American International Group from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $59.40 to $58.28 in a report on Friday, February 9th. Credit Suisse Group set a $73.00 price target on shares of American International Group and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Zacks Investment Research raised shares of American International Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. American International Group has an average rating of “Hold” and a consensus target price of $66.71.
In other American International Group news, insider Claudine Macartney sold 2,052 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $59.61, for a total transaction of $122,319.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director W Don Cornwell sold 2,500 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $58.78, for a total transaction of $146,950.00. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
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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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