Mirae Asset Global Investments Co. Ltd. Has $4.77 Million Position in American International Group, Inc. (NYSE:AIG)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of American International Group, Inc. (NYSE:AIGGet Rating) by 30.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,018 shares of the insurance provider’s stock after purchasing an additional 17,522 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in American International Group were worth $4,771,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in American International Group by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 80,523,572 shares of the insurance provider’s stock valued at $5,054,464,000 after buying an additional 932,428 shares during the last quarter. State Street Corp grew its stake in American International Group by 0.3% in the 4th quarter. State Street Corp now owns 38,742,644 shares of the insurance provider’s stock valued at $2,202,907,000 after buying an additional 131,235 shares during the last quarter. Capital Research Global Investors grew its stake in American International Group by 1.7% in the 1st quarter. Capital Research Global Investors now owns 31,327,753 shares of the insurance provider’s stock valued at $1,966,447,000 after buying an additional 527,154 shares during the last quarter. Nuveen Asset Management LLC grew its stake in American International Group by 12.2% in the 4th quarter. Nuveen Asset Management LLC now owns 11,557,773 shares of the insurance provider’s stock valued at $657,176,000 after buying an additional 1,256,195 shares during the last quarter. Finally, Norges Bank acquired a new position in American International Group in the 4th quarter valued at about $506,692,000. 90.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AIG shares. Barclays decreased their price target on shares of 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. Credit Suisse Group boosted their price objective on shares of American International Group from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, September 12th. Finally, StockNews.com downgraded shares of American International Group from a “buy” rating to a “hold” rating in a report on Saturday, July 2nd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus price target of $65.29.

American International Group Stock Performance

NYSE AIG opened at $49.77 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $37.85 billion, a P/E ratio of 3.27 and a beta of 1.17. American International Group, Inc. has a 12-month low of $48.40 and a 12-month high of $65.73. The firm has a 50-day moving average price of $53.28 and a two-hundred day moving average price of $56.23.

American International Group (NYSE:AIGGet Rating) last issued its quarterly earnings results 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 return on equity of 7.12% and a net margin of 22.23%. During the same quarter in the prior year, the company posted $1.52 EPS. Analysts anticipate that American International Group, Inc. will post 5.03 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, September 15th. American International Group’s dividend payout ratio (DPR) is presently 8.40%.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 80,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $1,680,000,000.00. Following the completion of the sale, the insider now owns 501,145,000 shares of the company’s stock, valued at approximately $10,524,045,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Luciana Fato sold 17,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $54.01, for a total value of $918,170.00. Following the completion of the transaction, the executive vice president now owns 45,444 shares of the company’s stock, valued at approximately $2,454,430.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder International Group American sold 80,000,000 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $1,680,000,000.00. Following the completion of the transaction, the insider now directly owns 501,145,000 shares of the company’s stock, valued at approximately $10,524,045,000. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

American International Group Profile

(Get Rating)

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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