Glendon Capital Management LP held its position in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,500 shares of the insurance provider’s stock at the close of the second quarter. American International Group comprises approximately 2.7% of Glendon Capital Management LP’s portfolio, making the stock its 9th biggest position. Glendon Capital Management LP’s holdings in American International Group were worth $11,347,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AIG. Boston Partners raised its position in American International Group by 262.4% in the second quarter. Boston Partners now owns 6,861,857 shares of the insurance provider’s stock worth $429,003,000 after acquiring an additional 4,968,504 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in American International Group by 307.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,167,213 shares of the insurance provider’s stock worth $260,534,000 after acquiring an additional 3,144,446 shares in the last quarter. Prudential Financial Inc. raised its position in American International Group by 202.5% in the second quarter. Prudential Financial Inc. now owns 4,009,199 shares of the insurance provider’s stock worth $250,655,000 after acquiring an additional 2,683,775 shares in the last quarter. Renaissance Technologies LLC purchased a new position in American International Group in the second quarter worth $134,359,000. Finally, TIAA CREF Investment Management LLC raised its position in American International Group by 27.1% in the second quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock worth $616,283,000 after acquiring an additional 2,103,522 shares in the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.
American International Group, Inc. (NYSE:AIG) traded up 0.8410% during trading on Thursday, hitting $62.3601. The stock had a trading volume of 3,231,454 shares. American International Group, Inc. has a 12-month low of $57.35 and a 12-month high of $67.47. The company has a 50 day moving average of $60.67 and a 200-day moving average of $62.20. The company’s market cap is $56.34 billion.
American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, equities analysts predict that American International Group, Inc. will post $3.48 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.32 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. American International Group’s dividend payout ratio (DPR) is currently -711.07%.
Several research analysts have issued reports on AIG shares. BidaskClub cut American International Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Bank of America Corporation dropped their price target on American International Group from $71.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley restated a “buy” rating on shares of American International Group in a research report on Tuesday. Zacks Investment Research upgraded American International Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $75.00 price target on shares of American International Group in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $68.35.
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American International Group Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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