Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of American International Group, Inc. (NYSE:AIG – Get Rating) in the fourth quarter, Holdings Channel.com reports. The firm purchased 4,254 shares of the insurance provider’s stock, valued at approximately $242,000.
Other hedge funds also recently added to or reduced their stakes in the company. Equitec Proprietary Markets LLC acquired a new position in American International Group during the 4th quarter valued at about $27,000. Clearstead Advisors LLC acquired a new position in American International Group during the 4th quarter valued at about $29,000. Massmutual Trust Co. FSB ADV boosted its stake in American International Group by 138.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 657 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 382 shares during the last quarter. Cordasco Financial Network acquired a new position in American International Group during the 4th quarter valued at about $38,000. Finally, Evoke Wealth LLC boosted its stake in American International Group by 179.6% during the 4th quarter. Evoke Wealth LLC now owns 741 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 476 shares during the last quarter. Institutional investors and hedge funds own 92.57% of the company’s stock.
NYSE:AIG opened at $57.29 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $45.38 billion, a PE ratio of 4.96, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24. The firm’s 50 day moving average is $60.45 and its 200 day moving average is $59.09. American International Group, Inc. has a 12 month low of $44.54 and a 12 month high of $65.73.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.23%. American International Group’s dividend payout ratio (DPR) is presently 11.07%.
American International Group announced that its board has approved a share repurchase program on Tuesday, May 3rd that authorizes the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of equities analysts have issued reports on AIG shares. The Goldman Sachs Group reiterated a “buy” rating and set a $81.00 price target on shares of American International Group in a research note on Tuesday, May 10th. Barclays boosted their target price on American International Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. Wolfe Research downgraded American International Group from an “outperform” rating to a “market perform” rating and set a $65.00 target price on the stock. in a research note on Thursday, February 10th. Finally, StockNews.com upgraded American International Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, American International Group currently has an average rating of “Hold” and a consensus price target of $64.11.
About American International Group (Get Rating)
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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