Independent Advisor Alliance Increases Stake in American International Group, Inc. (NYSE:AIG)

Independent Advisor Alliance grew its position in American International Group, Inc. (NYSE:AIG) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,393 shares of the insurance provider’s stock after acquiring an additional 161 shares during the quarter. Independent Advisor Alliance’s holdings in American International Group were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AIG. Swedbank AB purchased a new stake in shares of American International Group in the first quarter valued at $99,951,000. Diamond Hill Capital Management Inc. increased its stake in American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after buying an additional 722,237 shares during the period. Bank of Montreal Can lifted its holdings in American International Group by 83.6% during the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after buying an additional 597,765 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in American International Group by 66.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,104,172 shares of the insurance provider’s stock valued at $80,858,000 after buying an additional 438,918 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in American International Group by 2,493.5% during the 2nd quarter. Marshall Wace LLP now owns 349,341 shares of the insurance provider’s stock valued at $25,935,000 after buying an additional 335,871 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AIG shares. Evercore ISI decreased their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. TD Cowen decreased their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Bank of America lifted their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays began coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. Finally, StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.80.

American International Group Stock Up 1.1 %

Shares of American International Group stock opened at $77.13 on Thursday. The company has a market cap of $48.11 billion, a P/E ratio of -22.75, a PEG ratio of 7.53 and a beta of 1.05. American International Group, Inc. has a 52-week low of $64.54 and a 52-week high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average price is $75.69 and its 200-day moving average price is $75.51.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the previous year, the firm earned $1.61 EPS. On average, sell-side analysts predict that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by insiders.

About American International Group

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.