Cerity Partners LLC Boosts Stock Position in American International Group, Inc. (NYSE:AIG)

Cerity Partners LLC raised its position in shares of American International Group, Inc. (NYSE:AIG) by 40.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,676 shares of the insurance provider’s stock after buying an additional 47,722 shares during the quarter. Cerity Partners LLC’s holdings in American International Group were worth $12,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AIG. Swedbank AB purchased a new stake in American International Group during the first quarter valued at approximately $99,951,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of 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 purchasing an additional 597,765 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of American International Group by 66.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,104,172 shares of the insurance provider’s stock worth $80,858,000 after purchasing an additional 438,918 shares in the last quarter. Finally, Marshall Wace LLP increased its position 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. 90.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Bank of America boosted their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, TD Cowen reduced their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus price target of $84.80.

American International Group Stock Up 0.4 %

Shares of AIG stock opened at $76.28 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $64.54 and a twelve month high of $80.83. The stock has a 50 day moving average of $75.61 and a 200 day moving average of $75.50. The stock has a market cap of $47.58 billion, a P/E ratio of -22.50, a P/E/G ratio of 7.54 and a beta of 1.05.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $1.61 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the business’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 completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by company insiders.

American International Group 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.