UMB Bank n.a. Grows Stock Holdings in American International Group, Inc. $AIG

UMB Bank n.a. grew its position in shares of American International Group, Inc. (NYSE:AIG) by 27.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,499 shares of the insurance provider’s stock after purchasing an additional 538 shares during the period. UMB Bank n.a.’s holdings in American International Group were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AIG. GQG Partners LLC grew its position in shares of American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares in the last quarter. Nuveen LLC purchased a new position in American International Group in the first quarter worth $440,273,000. AQR Capital Management LLC grew its position in American International Group by 184.4% in the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after acquiring an additional 2,162,545 shares in the last quarter. Raymond James Financial Inc. grew its position in American International Group by 151.6% in the first quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock worth $285,682,000 after acquiring an additional 1,980,001 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in American International Group by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after acquiring an additional 1,901,998 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AIG shares. Citigroup began coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price target for the company. Wall Street Zen downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Wolfe Research began coverage on shares of American International Group in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Cantor Fitzgerald upgraded shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.27.

American International Group Trading Up 0.1%

NYSE:AIG opened at $76.63 on Wednesday. The company’s 50 day moving average price is $79.58 and its 200-day moving average price is $81.90. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a market cap of $42.45 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.82 and a beta of 0.70.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, equities research analysts forecast that American International Group, Inc. will post 6.24 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 Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio is 34.09%.

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.