CAPROCK Group Inc. grew its position in American International Group, Inc. (NYSE:AIG) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,946 shares of the insurance provider’s stock after purchasing an additional 443 shares during the quarter. CAPROCK Group Inc.’s holdings in American International Group were worth $235,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in AIG. Eudaimonia Partners LLC bought a new position in shares of American International Group in the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of American International Group in the first quarter worth $28,000. Sierra Capital LLC acquired a new stake in shares of American International Group in the first quarter worth $33,000. Pflug Koory LLC acquired a new stake in shares of American International Group in the second quarter worth $39,000. Finally, RMR Wealth Builders grew its stake in shares of American International Group by 95.9% in the first quarter. RMR Wealth Builders now owns 866 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 424 shares during the last quarter. 89.09% of the stock is currently owned by institutional investors.
AIG has been the topic of a number of recent research reports. Barclays lifted their price target on shares of American International Group from $53.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Zacks Investment Research cut American International Group from a “strong-buy” rating to a “hold” rating and set a $60.00 price target for the company. in a report on Tuesday, October 5th. lifted their price target on American International Group from $48.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, June 21st. Morgan Stanley lifted their price target on American International Group from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, August 16th. Finally, TheStreet raised American International Group from a “c” rating to a “b-” rating in a report on Wednesday, September 8th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.15.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 4th. The insurance provider reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.32. American International Group had a return on equity of 5.83% and a net margin of 9.35%. The business had revenue of $11.99 billion during the quarter, compared to analyst estimates of $11.56 billion. Equities research analysts predict that American International Group, Inc. will post 4.92 EPS for the current fiscal year.
American International Group announced that its Board of Directors has initiated a share repurchase program on Thursday, August 5th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, September 15th. American International Group’s dividend payout ratio (DPR) is currently 50.79%.
About American International Group
American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.
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