Cramer Rosenthal Mcglynn LLC Buys 53,466 Shares of American International Group Inc (NYSE:AIG)

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Cramer Rosenthal Mcglynn LLC raised its stake in American International Group Inc (NYSE:AIG) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 637,056 shares of the insurance provider’s stock after acquiring an additional 53,466 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in American International Group were worth $33,942,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wesbanco Bank Inc. raised its holdings in American International Group by 6.4% in the 2nd quarter. Wesbanco Bank Inc. now owns 14,174 shares of the insurance provider’s stock valued at $755,000 after acquiring an additional 850 shares during the period. ETRADE Capital Management LLC raised its holdings in American International Group by 6.9% in the 2nd quarter. ETRADE Capital Management LLC now owns 83,574 shares of the insurance provider’s stock valued at $4,453,000 after acquiring an additional 5,403 shares during the period. Miles Capital Inc. grew its position in shares of American International Group by 12.2% during the 2nd quarter. Miles Capital Inc. now owns 7,567 shares of the insurance provider’s stock worth $403,000 after purchasing an additional 821 shares in the last quarter. Profund Advisors LLC grew its position in shares of American International Group by 54.6% during the 2nd quarter. Profund Advisors LLC now owns 22,216 shares of the insurance provider’s stock worth $1,184,000 after purchasing an additional 7,845 shares in the last quarter. Finally, Scotia Capital Inc. grew its position in shares of American International Group by 1.2% during the 2nd quarter. Scotia Capital Inc. now owns 127,383 shares of the insurance provider’s stock worth $6,787,000 after purchasing an additional 1,482 shares in the last quarter. 90.99% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on AIG shares. Royal Bank of Canada increased their target price on shares of American International Group to $68.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Morgan Stanley restated a “buy” rating and set a $63.00 target price on shares of American International Group in a research report on Monday, August 12th. Wells Fargo & Co restated a “buy” rating and set a $62.00 target price on shares of American International Group in a research report on Wednesday, August 7th. Deutsche Bank lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 target price on the stock. in a research report on Wednesday, June 5th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods increased their price target on shares of American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Sunday, July 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $57.03.

In other American International Group news, CEO Seraina Macia sold 7,550 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $56.00, for a total value of $422,800.00. Following the sale, the chief executive officer now owns 11,055 shares in the company, valued at $619,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Shares of NYSE AIG traded up $0.28 during trading hours on Friday, hitting $57.04. 9,147 shares of the stock were exchanged, compared to its average volume of 3,242,876. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $48.28 billion, a PE ratio of 48.72, a price-to-earnings-growth ratio of 1.08 and a beta of 1.19. The company’s fifty day simple moving average is $54.54 and its two-hundred day simple moving average is $50.45. American International Group Inc has a 1-year low of $36.16 and a 1-year high of $57.58.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.26. American International Group had a negative net margin of 0.24% and a positive return on equity of 2.97%. The firm had revenue of $12.16 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the business posted $1.05 earnings per share. As a group, sell-side analysts expect that American International Group Inc will post 5.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th will be given a $0.32 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.28 dividend on an annualized basis and a yield of 2.24%. American International Group’s dividend payout ratio is currently 109.40%.

About American International Group

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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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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