Advisors Asset Management Inc. Sells 1,192 Shares of American International Group, Inc. (NYSE:AIG)

Advisors Asset Management Inc. lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,372 shares of the insurance provider’s stock after selling 1,192 shares during the period. Advisors Asset Management Inc.’s holdings in American International Group were worth $1,199,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AIG. Diamond Hill Capital Management Inc. grew its holdings in American International Group by 5.6% during the third 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 period. Dimensional Fund Advisors LP increased its holdings in American International Group by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock worth $477,802,000 after acquiring an additional 269,188 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock valued at $233,743,000 after acquiring an additional 198,889 shares during the period. APG Asset Management N.V. lifted its holdings in American International Group by 13.3% during the second quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after purchasing an additional 258,700 shares during the last quarter. Finally, National Pension Service boosted its position in American International Group by 5.1% during the third quarter. National Pension Service now owns 2,186,421 shares of the insurance provider’s stock worth $160,112,000 after purchasing an additional 105,213 shares during the period. Institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated 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 directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

American International Group stock opened at $75.98 on Tuesday. American International Group, Inc. has a fifty-two week low of $64.54 and a fifty-two 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. The stock has a market cap of $47.39 billion, a P/E ratio of -22.41, a price-to-earnings-growth ratio of 7.54 and a beta of 1.05. The firm’s fifty day moving average price is $75.56 and its 200-day moving average price is $75.53.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the business posted $1.61 earnings per share. On average, equities research analysts expect that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced 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. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AIG. Keefe, Bruyette & Woods dropped their price target on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Jefferies Financial Group increased their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen reduced their price target on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Bank of America increased their price objective on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and an average price target of $84.80.

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.