International Assets Investment Management LLC Acquires Shares of 54,708 American International Group, Inc. (NYSE:AIG)

International Assets Investment Management LLC bought a new stake in shares of American International Group, Inc. (NYSE:AIG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 54,708 shares of the insurance provider’s stock, valued at approximately $40,060,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Forum Financial Management LP grew its position in shares of American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after buying an additional 136 shares in the last quarter. Quent Capital LLC raised its holdings in shares of American International Group by 4.0% during the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 146 shares during the last quarter. New Republic Capital LLC lifted its position in shares of American International Group by 5.2% in the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 164 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

AIG has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. UBS Group upped their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, TD Cowen cut their price target on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.38.

Insider Buying and Selling

In other American International Group 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 directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

American International Group Price Performance

AIG opened at $76.82 on Monday. The stock’s 50-day moving average price is $74.90 and its 200 day moving average price is $75.50. American International Group, Inc. has a 12-month low of $59.12 and a 12-month high of $80.83. The firm has a market cap of $50.98 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 3.88 and a beta of 1.06. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 5.09 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. American International Group’s payout ratio is currently 23.88%.

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.