Crossmark Global Holdings Inc. Has $11.55 Million Holdings in American International Group Inc (AIG)
Crossmark Global Holdings Inc. boosted its holdings in shares of American International Group Inc (NYSE:AIG) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,023 shares of the insurance provider’s stock after purchasing an additional 3,463 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in American International Group were worth $11,554,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of AIG. Advisors Asset Management Inc. increased its holdings in American International Group by 21,735.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 9,171 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 9,129 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in American International Group during the 2nd quarter worth approximately $115,000. Kaizen Advisory LLC increased its holdings in American International Group by 152.1% during the 2nd quarter. Kaizen Advisory LLC now owns 2,196 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 1,325 shares during the last quarter. Zions Bancorporation purchased a new stake in American International Group during the 3rd quarter worth approximately $124,000. Finally, Financial Engines Advisors L.L.C. increased its holdings in shares of American International Group by 350.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 2,890 shares of the insurance provider’s stock valued at $154,000 after acquiring an additional 2,248 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Barclays lowered their price target on American International Group from $71.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, November 12th. Morgan Stanley lowered their price target on American International Group from $65.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. Argus lowered their price target on American International Group from $58.00 to $50.00 and set a “buy” rating for the company in a report on Friday, November 2nd. JPMorgan Chase & Co. set a $55.00 price target on American International Group and gave the company a “hold” rating in a report on Thursday, November 1st. Finally, Deutsche Bank upgraded American International Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $60.02.
American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, October 31st. The insurance provider reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.40). American International Group had a negative net margin of 12.73% and a positive return on equity of 3.44%. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.44 billion. During the same quarter in the prior year, the firm earned ($1.22) EPS. On average, equities analysts forecast that American International Group Inc will post 2.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Wednesday, December 12th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $1.28 dividend on an annualized basis and a yield of 2.98%. American International Group’s dividend payout ratio is currently 53.33%.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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