Great Lakes Retirement Inc. Increases Stake in American International Group, Inc. (NYSE:AIG)

Great Lakes Retirement Inc. raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,441 shares of the insurance provider’s stock after acquiring an additional 250 shares during the quarter. Great Lakes Retirement Inc.’s holdings in American International Group were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Brookstone Capital Management grew its holdings in American International Group by 8.4% during the first quarter. Brookstone Capital Management now owns 6,043 shares of the insurance provider’s stock valued at $472,000 after purchasing an additional 470 shares during the period. Procyon Advisors LLC grew its stake in shares of American International Group by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 18,330 shares of the insurance provider’s stock valued at $1,433,000 after acquiring an additional 754 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of American International Group by 8.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,309 shares of the insurance provider’s stock valued at $2,213,000 after acquiring an additional 2,106 shares during the period. Register Financial Advisors LLC purchased a new stake in American International Group in the 1st quarter worth approximately $219,000. Finally, Financial Management Professionals Inc. lifted its holdings in American International Group by 16.3% during the first quarter. Financial Management Professionals Inc. now owns 5,057 shares of the insurance provider’s stock valued at $395,000 after purchasing an additional 710 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AIG. TD Cowen decreased their price objective on shares of 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. Bank of America boosted their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley cut their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. UBS Group boosted their price target on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Evercore ISI cut their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.38.

Insider Activity

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was 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 of the company’s stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of American International Group stock opened at $77.67 on Friday. The stock has a market cap of $51.55 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day moving average price of $74.75 and a 200-day moving average price of $75.49. American International Group, Inc. has a one year low of $59.12 and a one year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data 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 firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. Equities analysts expect that American International Group, Inc. will post 5.09 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 16th. 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.