Resona Asset Management Co. Ltd. Makes New Investment in American International Group, Inc. (NYSE:AIG)

Resona Asset Management Co. Ltd. acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 184,299 shares of the insurance provider’s stock, valued at approximately $13,422,000.

A number of other hedge funds also recently made changes to their positions in AIG. Wellington Management Group LLP lifted its holdings in American International Group by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares during the period. Franklin Resources Inc. lifted its stake in shares of American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after buying an additional 1,284,354 shares in the last quarter. Norges Bank bought a new position in American International Group in the 4th quarter worth $718,013,000. Finally, Bank of New York Mellon Corp increased its stake in American International Group by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after buying an additional 347,982 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Price Performance

Shares of American International Group stock opened at $78.83 on Monday. The stock has a 50 day moving average price of $79.60 and a 200-day moving average price of $76.38. American International Group, Inc. has a one year low of $69.00 and a one year high of $88.07. The stock has a market cap of $46.77 billion, a price-to-earnings ratio of -37.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

AIG has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on American International Group from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Wells Fargo & Company upped their price target on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of American International Group to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, American International Group has a consensus rating of “Moderate Buy” and an average price target of $87.12.

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.