Mirae Asset Global Investments Co. Ltd. Increases Stock Position in American International Group, Inc. (NYSE:AIG)

Mirae Asset Global Investments Co. Ltd. raised its holdings in American International Group, Inc. (NYSE:AIGGet Rating) by 30.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,018 shares of the insurance provider’s stock after purchasing an additional 17,522 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American International Group were worth $4,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in American International Group by 0.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,292 shares of the insurance provider’s stock valued at $3,345,000 after purchasing an additional 167 shares in the last quarter. Goodwin Daniel L boosted its holdings in American International Group by 2.4% in the 1st quarter. Goodwin Daniel L now owns 9,625 shares of the insurance provider’s stock valued at $604,000 after purchasing an additional 225 shares in the last quarter. 44 Wealth Management LLC boosted its holdings in American International Group by 1.3% in the 1st quarter. 44 Wealth Management LLC now owns 18,497 shares of the insurance provider’s stock valued at $1,161,000 after purchasing an additional 229 shares in the last quarter. Beaumont Asset Management L.L.C. boosted its holdings in American International Group by 2.1% in the 1st quarter. Beaumont Asset Management L.L.C. now owns 11,621 shares of the insurance provider’s stock valued at $729,000 after purchasing an additional 235 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in American International Group by 6.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,301 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AIG shares. Barclays decreased their price target on American International Group from $63.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. The Goldman Sachs Group reissued a “buy” rating and set a $81.00 price target on shares of American International Group in a research note on Tuesday, May 10th. Finally, StockNews.com lowered American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, American International Group has an average rating of “Hold” and an average price target of $66.17.

American International Group Stock Down 3.7 %

Shares of American International Group stock opened at $54.04 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $52.27 and a 200 day moving average price of $57.40. The stock has a market cap of $41.09 billion, a price-to-earnings ratio of 3.55 and a beta of 1.20. American International Group, Inc. has a twelve month low of $48.40 and a twelve month high of $65.73.

American International Group (NYSE:AIGGet Rating) last posted its quarterly earnings data on Monday, August 8th. The insurance provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). American International Group had a net margin of 22.23% and a return on equity of 7.12%. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Equities research analysts forecast that American International Group, Inc. will post 5.06 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.37%. American International Group’s dividend payout ratio (DPR) is presently 8.40%.

American International Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 3rd that authorizes the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About American International Group

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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company’s General Insurance segment provides general liability, environmental, commercial automobile liability, workers’ compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

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