Massachusetts Financial Services Co. MA Acquires 198,889 Shares of American International Group, Inc. (NYSE:AIG)

Massachusetts Financial Services Co. MA boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,148,482 shares of the insurance provider’s stock after purchasing an additional 198,889 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.47% of American International Group worth $233,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Plato Investment Management Ltd grew its holdings in American International Group by 15.9% during the 2nd quarter. Plato Investment Management Ltd now owns 5,749 shares of the insurance provider’s stock valued at $427,000 after buying an additional 788 shares in the last quarter. WINTON GROUP Ltd purchased a new position in American International Group during the 2nd quarter valued at approximately $20,413,000. Oppenheimer Asset Management Inc. grew its holdings in American International Group by 13.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 140,651 shares of the insurance provider’s stock valued at $10,442,000 after buying an additional 16,179 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in American International Group by 45.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 16,791 shares of the insurance provider’s stock valued at $1,246,000 after buying an additional 5,251 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in American International Group by 32.2% during the 2nd quarter. Meeder Advisory Services Inc. now owns 19,479 shares of the insurance provider’s stock valued at $1,446,000 after buying an additional 4,746 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of American International Group stock opened at $73.60 on Wednesday. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83. The company has a market capitalization of $48.85 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The stock’s fifty day moving average is $74.73 and its two-hundred day moving average is $75.70. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

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

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio is 23.88%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AIG shares. Citigroup cut their price target on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Bank of America raised their price target on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley dropped their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, TD Cowen dropped their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.88.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.61% of the company’s stock.

American International Group 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.