HighTower Advisors LLC Has $6.81 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

HighTower Advisors LLC boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 25.8% in the third quarter, HoldingsChannel reports. The fund owned 92,879 shares of the insurance provider’s stock after buying an additional 19,074 shares during the quarter. HighTower Advisors LLC’s holdings in American International Group were worth $6,807,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc acquired a new stake in shares of American International Group during the third quarter worth approximately $26,000. Y.D. More Investments Ltd acquired a new stake in shares of American International Group during the 2nd quarter valued at $27,000. True Wealth Design LLC acquired a new stake in shares of American International Group during the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of American International Group during the 3rd quarter valued at $46,000. Finally, NBC Securities Inc. boosted its position in American International Group by 241.6% during the third quarter. NBC Securities Inc. now owns 673 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 476 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the 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 transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Stock Down 2.0 %

Shares of AIG stock opened at $74.08 on Tuesday. American International Group, Inc. has a 12 month low of $65.44 and a 12 month high of $80.83. The firm has a market cap of $46.21 billion, a PE ratio of -21.85, a price-to-earnings-growth ratio of 7.49 and a beta of 1.05. The stock has a 50 day moving average of $76.06 and a 200-day moving average of $75.32. 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 released 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 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 prior year, the company earned $1.61 EPS. On average, equities analysts predict that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued 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 2.16%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. UBS Group lifted their price objective on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their price target on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. TD Cowen reduced their target price on shares of 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. Keefe, Bruyette & Woods reduced their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus price target of $84.80.

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.