Engineers Gate Manager LP Buys 239,796 Shares of American International Group, Inc. $AIG

Engineers Gate Manager LP boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 993.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 263,922 shares of the insurance provider’s stock after buying an additional 239,796 shares during the quarter. Engineers Gate Manager LP’s holdings in American International Group were worth $19,670,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cidel Asset Management Inc. grew its holdings in American International Group by 10.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 12,189 shares of the insurance provider’s stock valued at $908,000 after purchasing an additional 1,152 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in American International Group by 3.2% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,334 shares of the insurance provider’s stock worth $472,000 after purchasing an additional 196 shares during the period. Integrated Wealth Concepts LLC lifted its stake in American International Group by 28.9% in the second quarter. Integrated Wealth Concepts LLC now owns 9,193 shares of the insurance provider’s stock worth $685,000 after purchasing an additional 2,062 shares during the last quarter. Community Bank N.A. lifted its stake in American International Group by 27.4% in the second quarter. Community Bank N.A. now owns 953 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 205 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of American International Group by 7.9% during the second quarter. IFP Advisors Inc now owns 3,630 shares of the insurance provider’s stock valued at $271,000 after buying an additional 265 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

American International Group Stock Up 0.4%

American International Group stock opened at $75.01 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a market cap of $39.22 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.84 and a beta of 0.50. The business has a fifty day moving average of $77.95 and a two-hundred day moving average of $76.89. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $1.81 EPS. On average, analysts forecast that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.7%. American International Group’s payout ratio is currently 36.56%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AIG. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. UBS Group upped their price objective on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Morgan Stanley reduced their target price on American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Argus reiterated a “buy” rating and set a $90.00 target price on shares of American International Group in a research report on Wednesday, September 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Eight research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.37.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.