River & Mercantile Asset Management LLP Invests $2.593 Million in American International Group Inc (AIG)
River & Mercantile Asset Management LLP bought a new stake in American International Group Inc (NYSE:AIG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 39,700 shares of the insurance provider’s stock, valued at approximately $2,593,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Israel Discount Bank of New York GFN purchased a new stake in American International Group during the fourth quarter worth $148,000. Norges Bank purchased a new stake in American International Group during the fourth quarter worth $531,208,000. SNS Financial Group LLC purchased a new stake in American International Group during the fourth quarter worth $222,000. CMH Wealth Management LLC purchased a new stake in American International Group during the fourth quarter worth $2,246,000. Finally, I.G. Investment Management LTD. boosted its stake in American International Group by 14.3% in the fourth quarter. I.G. Investment Management LTD. now owns 2,015,236 shares of the insurance provider’s stock worth $131,615,000 after buying an additional 252,198 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.
American International Group Inc (NYSE:AIG) traded up 1.17% during midday trading on Thursday, reaching $59.67. 9,397,661 shares of the company were exchanged. American International Group Inc has a 52-week low of $48.41 and a 52-week high of $67.47. The company has a 50 day moving average of $61.88 and a 200-day moving average of $63.23. The company’s market capitalization is $58.45 billion.
American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 14th. The insurance provider reported ($2.72) earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by $3.90. American International Group had a net margin of 0.66% and a return on equity of 1.82%. The business had revenue of $14.13 billion for the quarter, compared to analysts’ expectations of $11.51 billion. During the same quarter in the prior year, the firm posted ($1.10) EPS. On average, equities research analysts anticipate that American International Group Inc will post $4.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, March 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.15%. American International Group’s dividend payout ratio is 290.92%.
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A number of research firms have recently weighed in on AIG. Wells Fargo & Co restated a “buy” rating on shares of American International Group in a report on Thursday. Credit Suisse Group AG set a $72.00 price objective on shares of American International Group and gave the company a “buy” rating in a research report on Saturday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of American International Group from $69.00 to $65.00 and set a “neutral” rating for the company in a research 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 objective for the company in a research report on Tuesday, March 28th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $71.00 price objective on shares of American International Group in a research report on Monday, March 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. American International Group currently has an average rating of “Buy” and a consensus target price of $65.18.
In other news, insider Philip Fasano sold 6,000 shares of American International Group stock in a transaction on Monday, February 27th. The stock was sold at an average price of $63.59, for a total transaction of $381,540.00. The sale was disclosed in a filing with the SEC, which is available at this link. 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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