Quarry LP Purchases 3,638 Shares of American International Group, Inc. (NYSE:AIG)

Quarry LP boosted its position in shares of American International Group, Inc. (NYSE:AIG) by 1,708.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,851 shares of the insurance provider’s stock after acquiring an additional 3,638 shares during the period. Quarry LP’s holdings in American International Group were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIG. Capital Research Global Investors raised its holdings in shares of American International Group by 0.4% in the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock valued at $2,829,930,000 after acquiring an additional 176,286 shares in the last quarter. Putnam Investments LLC raised its stake in American International Group by 3.8% in the fourth quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after purchasing an additional 300,712 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in American International Group by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after purchasing an additional 269,188 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after buying an additional 31,340 shares in the last quarter. Finally, Third Point LLC lifted its holdings in shares of American International Group by 16.9% during the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock worth $233,738,000 after acquiring an additional 500,000 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.3 %

NYSE AIG opened at $73.34 on Monday. The business’s 50-day moving average is $74.15 and its 200 day moving average is $75.63. The stock has a market capitalization of $48.67 billion, a PE ratio of 10.95, a PEG ratio of 3.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm posted $1.75 earnings per share. American International Group’s quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. American International Group’s dividend payout ratio is 23.88%.

Analyst Ratings Changes

A number of research analysts recently commented on AIG shares. Citigroup reduced their target price on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods decreased their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Tuesday, July 9th. Bank of America lifted their price target on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Barclays began coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.88.

Insider Activity

In related news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 14,964,738 shares of company stock valued at $400,732,195. Corporate insiders own 0.61% of the company’s stock.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.