Plato Investment Management Ltd Makes New Investment in American International Group, Inc. $AIG

Plato Investment Management Ltd acquired a new position in American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent filing with the SEC. The firm acquired 30,353 shares of the insurance provider’s stock, valued at approximately $2,249,000.

Several other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after purchasing an additional 4,661,246 shares during the period. Franklin Resources Inc. lifted its position in shares of American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after purchasing an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after purchasing an additional 1,846,979 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of American International Group by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after purchasing an additional 474,035 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of American International Group by 10.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock valued at $640,133,000 after buying an additional 731,802 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AIG. UBS Group increased their price target on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group lifted their price objective on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Citigroup upped their target price on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods increased their target price on American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald lowered their target price on American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $88.28.

American International Group Price Performance

AIG stock opened at $75.88 on Tuesday. The firm has a 50 day moving average price of $77.61 and a 200-day moving average price of $76.93. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the prior year, the business posted $1.81 EPS. Equities research analysts forecast that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.