Principal Securities Inc. Increases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Principal Securities Inc. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 94.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,374 shares of the insurance provider’s stock after purchasing an additional 5,522 shares during the quarter. Principal Securities Inc.’s holdings in American International Group were worth $828,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new position in shares of American International Group in the 3rd quarter worth approximately $494,000. Artemis Investment Management LLP grew its position in shares of American International Group by 115.9% in the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after acquiring an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in shares of American International Group by 5.2% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock worth $5,155,000 after acquiring an additional 3,490 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of American International Group in the 4th quarter worth approximately $1,260,000. Finally, Williams & Novak LLC acquired a new position in shares of American International Group in the 4th quarter worth approximately $279,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Up 1.3 %

Shares of American International Group stock opened at $76.27 on Friday. The stock has a 50-day moving average price of $73.60 and a 200 day moving average price of $74.44. The company has a market cap of $45.25 billion, a P/E ratio of -36.67, a P/E/G ratio of 0.98 and a beta of 1.05. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 1 year low of $68.15 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, analysts expect that American International Group, Inc. will post 6.32 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s payout ratio is currently -76.92%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price objective on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price objective on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, American International Group currently has an average rating of “Hold” and an average price target of $83.94.

Insiders Place Their Bets

In related news, Director John G. Rice acquired 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

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.