Weiss Asset Management LP bought a new position in American International Group, Inc. (NYSE:AIG - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,668 shares of the insurance provider's stock, valued at approximately $1,221,000.
Several other large investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in American International Group during the 3rd quarter valued at $26,000. Y.D. More Investments Ltd acquired a new stake in shares of American International Group in the second quarter valued at $27,000. True Wealth Design LLC bought a new position in American International Group during the third quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in American International Group during the third quarter worth about $46,000. Finally, NBC Securities Inc. raised its position in American International Group by 241.6% in the third quarter. NBC Securities Inc. now owns 673 shares of the insurance provider's stock worth $49,000 after acquiring an additional 476 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.
AIG has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Evercore ISI decreased their target price on American International Group from $79.00 to $78.00 and set an "in-line" rating on the stock in a report on Wednesday, October 9th. TD Cowen cut their target price on American International Group from $83.00 to $80.00 and set a "hold" rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company decreased their price target on American International Group from $77.00 to $76.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 6th. Finally, BMO Capital Markets downgraded American International Group from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.80.
View Our Latest Analysis on American International Group
Shares of NYSE:AIG opened at $75.56 on Monday. The company has a 50 day moving average price of $76.05 and a two-hundred day moving average price of $75.34. The company has a market capitalization of $47.13 billion, a PE ratio of -22.29, a PEG ratio of 7.53 and a beta of 1.05. American International Group, Inc. has a 52 week low of $64.81 and a 52 week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65.
American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. The firm 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 period last year, the company posted $1.61 EPS. Analysts forecast that American International Group, Inc. will post 5.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.12%. American International Group's payout ratio is currently -47.20%.
In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company's stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.61% of the company's stock.
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.
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