Benjamin Edwards Inc. Takes $293,000 Position in American International Group, Inc. (NYSE:AIG)

Benjamin Edwards Inc. purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,005 shares of the insurance provider’s stock, valued at approximately $293,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. lifted its stake in shares of 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 worth $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of American International Group by 83.6% during the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after purchasing an additional 597,765 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of American International Group by 66.0% during the third 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. Marshall Wace LLP lifted its stake in shares of American International Group by 2,493.5% during the second quarter. Marshall Wace LLP now owns 349,341 shares of the insurance provider’s stock worth $25,935,000 after purchasing an additional 335,871 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in shares of American International Group by 41.5% during the third quarter. AustralianSuper Pty Ltd now owns 1,028,532 shares of the insurance provider’s stock worth $75,319,000 after purchasing an additional 301,637 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AIG shares. Keefe, Bruyette & Woods reduced their price objective on 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. Bank of America boosted their price objective on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Evercore ISI cut their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, 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 research note on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.80.

American International Group Trading Down 2.0 %

Shares of NYSE AIG opened at $74.08 on Tuesday. The stock’s 50 day moving average price is $76.06 and its two-hundred day moving average price is $75.32. American International Group, Inc. has a 52-week low of $65.44 and a 52-week high of $80.83. The stock has a market capitalization of $46.21 billion, a P/E ratio of -21.85, a PEG ratio of 7.49 and a beta of 1.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

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

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

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.