Snow Capital Management LP Has $7.68 Million Stake in American International Group, Inc. (AIG)
Snow Capital Management LP boosted its stake in American International Group, Inc. (NYSE:AIG) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,986 shares of the insurance provider’s stock after buying an additional 2,848 shares during the period. Snow Capital Management LP’s holdings in American International Group were worth $7,678,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banco Santander S.A. raised its position in American International Group by 238.3% in the first quarter. Banco Santander S.A. now owns 16,692 shares of the insurance provider’s stock valued at $912,000 after buying an additional 11,758 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in American International Group by 13.5% in the first quarter. Segall Bryant & Hamill LLC now owns 513,170 shares of the insurance provider’s stock valued at $32,037,000 after buying an additional 61,233 shares during the last quarter. Mirador Capital Partners LP raised its position in American International Group by 10.8% in the first quarter. Mirador Capital Partners LP now owns 31,923 shares of the insurance provider’s stock valued at $1,993,000 after buying an additional 3,106 shares during the last quarter. Legal & General Group Plc raised its position in American International Group by 1.1% in the first quarter. Legal & General Group Plc now owns 5,371,867 shares of the insurance provider’s stock valued at $335,356,000 after buying an additional 57,104 shares during the last quarter. Finally, FDO Partners LLC purchased a new position in American International Group during the first quarter valued at about $774,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.
Shares of American International Group, Inc. (NYSE:AIG) opened at 63.18 on Tuesday. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 128.41 and a beta of 1.16. American International Group, Inc. has a 52 week low of $48.41 and a 52 week high of $67.47. The firm’s 50-day moving average is $62.81 and its 200-day moving average is $63.54.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.25. The business had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $11 billion. American International Group had a return on equity of 5.36% and a net margin of 1.00%. During the same quarter in the prior year, the company earned $0.65 earnings per share. Equities research analysts predict that American International Group, Inc. will post $5.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be issued a $0.32 dividend. The ex-dividend date is Monday, June 12th. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. American International Group’s dividend payout ratio (DPR) is 412.92%.
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Several research analysts have issued reports on the stock. Morgan Stanley upgraded shares of American International Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $62.87 to $61.82 in a report on Tuesday, May 16th. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada restated a “buy” rating and set a $71.00 price target on shares of American International Group in a report on Monday, April 24th. Wells Fargo & Company restated a “buy” rating on shares of American International Group in a report on Thursday, April 20th. Finally, Credit Suisse Group set a $72.00 price target on shares of American International Group and gave the stock a “buy” rating in a report on Saturday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.58.
In other news, CEO Brian Duperreault acquired 80,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was acquired at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the acquisition, the chief executive officer now owns 80,000 shares in the company, valued at $4,918,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.
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.
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