Cetera Investment Advisers Acquires 7,784 Shares of American International Group, Inc. (NYSE:AIG)

Cetera Investment Advisers raised its holdings in American International Group, Inc. (NYSE:AIG) by 13.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,432 shares of the insurance provider’s stock after buying an additional 7,784 shares during the quarter. Cetera Investment Advisers’ holdings in American International Group were worth $4,858,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Sei Investments Co. increased its position in shares of American International Group by 0.9% during the fourth quarter. Sei Investments Co. now owns 688,049 shares of the insurance provider’s stock valued at $46,616,000 after buying an additional 6,116 shares during the period. Elo Mutual Pension Insurance Co boosted its position in shares of American International Group by 2.6% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 62,154 shares of the insurance provider’s stock valued at $4,211,000 after purchasing an additional 1,579 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in American International Group by 95.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock worth $82,772,000 after purchasing an additional 597,661 shares during the period. Ethic Inc. raised its holdings in American International Group by 6.6% in the fourth quarter. Ethic Inc. now owns 179,275 shares of the insurance provider’s stock worth $12,146,000 after purchasing an additional 11,117 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in American International Group by 3.8% during the fourth quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after buying an additional 300,712 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AIG shares. Evercore ISI decreased their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, June 27th. StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Morgan Stanley dropped their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen cut their price target on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Barclays started coverage on American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.27.

American International Group Stock Up 1.3 %

AIG opened at $74.63 on Wednesday. The stock has a market capitalization of $49.53 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 3.70 and a beta of 1.06. The firm has a 50 day moving average price of $73.79 and a 200-day moving average price of $75.51. American International Group, Inc. has a twelve month low of $58.69 and a twelve month high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. American International Group’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Equities research analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.40 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.14%. American International Group’s payout ratio is 23.88%.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

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.