Creative Planning Has $3.66 Million Position in American International Group, Inc. (NYSE:AIG)

Creative Planning lifted its holdings in American International Group, Inc. (NYSE:AIG) by 20.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 50,014 shares of the insurance provider’s stock after acquiring an additional 8,556 shares during the quarter. Creative Planning’s holdings in American International Group were worth $3,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brookstone Capital Management grew its stake in American International Group by 8.4% during the 1st quarter. Brookstone Capital Management now owns 6,043 shares of the insurance provider’s stock valued at $472,000 after acquiring an additional 470 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in American International Group by 8.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,309 shares of the insurance provider’s stock valued at $2,213,000 after purchasing an additional 2,106 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in American International Group in the 1st quarter valued at approximately $211,000. First Bank & Trust lifted its position in American International Group by 66.4% in the 1st quarter. First Bank & Trust now owns 5,300 shares of the insurance provider’s stock worth $414,000 after buying an additional 2,114 shares in the last quarter. Finally, Vicus Capital acquired a new stake in shares of American International Group during the 1st quarter valued at $290,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG opened at $76.81 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $74.83 and its two-hundred day moving average price is $75.51. The firm has a market capitalization of $50.98 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. American International Group, Inc. has a 12-month low of $59.12 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 EPS. On average, equities analysts forecast that American International Group, Inc. will post 5.09 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio is currently 23.88%.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on 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 sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Morgan Stanley cut their price objective on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Citigroup decreased their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company cut their price target on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $84.38.

American International Group Company 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.