Traders Buy Shares of American International Group (AIG) on Weakness
Investors bought shares of American International Group Inc (NYSE:AIG) on weakness during trading hours on Monday. $65.08 million flowed into the stock on the tick-up and $23.94 million flowed out of the stock on the tick-down, for a money net flow of $41.14 million into the stock. Of all companies tracked, American International Group had the 21st highest net in-flow for the day. American International Group traded down ($0.39) for the day and closed at $45.80
A number of equities research analysts recently commented on the stock. Bank of America reiterated a “buy” rating and set a $46.00 price target on shares of American International Group in a report on Thursday. ValuEngine upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Argus lowered shares of American International Group from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Compass Point upgraded shares of American International Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $56.00 in a report on Friday, February 15th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $54.00 price target on shares of American International Group in a report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $55.07.
The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.60. The firm has a market cap of $40.17 billion, a P/E ratio of 39.15, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.28 annualized dividend and a yield of 2.79%. American International Group’s dividend payout ratio (DPR) is presently 109.40%.
American International Group declared that its Board of Directors has approved a stock buyback program on Wednesday, February 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc raised its holdings in American International Group by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 66,104,610 shares of the insurance provider’s stock worth $3,519,409,000 after purchasing an additional 225,775 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in American International Group by 49.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 22,573,630 shares of the insurance provider’s stock worth $889,627,000 after purchasing an additional 7,516,503 shares in the last quarter. Macquarie Group Ltd. raised its holdings in American International Group by 24.8% in the 4th quarter. Macquarie Group Ltd. now owns 16,690,982 shares of the insurance provider’s stock worth $657,792,000 after purchasing an additional 3,312,810 shares in the last quarter. Boston Partners raised its holdings in American International Group by 13.7% in the 4th quarter. Boston Partners now owns 14,867,095 shares of the insurance provider’s stock worth $585,912,000 after purchasing an additional 1,797,115 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in American International Group by 4,353.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,224,577 shares of the insurance provider’s stock worth $336,000 after purchasing an additional 12,927,638 shares in the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.
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American International Group Company Profile (NYSE:AIG)
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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