Legal & General Group Plc Has $212.11 Million Position in American International Group, Inc. $AIG

Legal & General Group Plc lessened its stake in American International Group, Inc. (NYSE:AIG) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,845,946 shares of the insurance provider’s stock after selling 200,647 shares during the period. Legal & General Group Plc owned about 0.54% of American International Group worth $212,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in American International Group in the 4th quarter valued at $636,782,000. Danske Bank A S raised its position in shares of American International Group by 7.7% in the fourth quarter. Danske Bank A S now owns 351,972 shares of the insurance provider’s stock worth $30,111,000 after buying an additional 25,200 shares in the last quarter. Lee Danner & Bass Inc. raised its holdings in shares of American International Group by 194.2% in the 1st quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock valued at $2,542,000 after acquiring an additional 22,300 shares in the last quarter. Swiss National Bank boosted its position in shares of American International Group by 4.3% during the 1st quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock valued at $119,163,000 after acquiring an additional 65,400 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of American International Group during the fourth quarter worth about $12,732,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 0.9%

AIG stock opened at $77.04 on Thursday. The company has a market capitalization of $40.28 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. 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, Inc. has a one year low of $71.25 and a one year high of $87.29. The company’s 50 day moving average price is $77.82 and its two-hundred day moving average price is $77.01.

American International Group (NYSE:AIG) last released its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter in the previous year, the company posted $1.81 EPS. As a group, analysts predict that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group’s dividend payout ratio (DPR) is 36.56%.

Insiders Place Their Bets

In other news, insider Peter Zaffino sold 36,829 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the transaction, the insider owned 556,004 shares in the company, valued at $42,334,144.56. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. boosted their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald decreased their price target on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. BMO Capital Markets raised their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Finally, Citigroup lifted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.28.

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.