First Trust Direct Indexing L.P. Acquires 1,621 Shares of American International Group, Inc. (NYSE:AIG)

First Trust Direct Indexing L.P. lifted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,419 shares of the insurance provider’s stock after acquiring an additional 1,621 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in American International Group were worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. Cetera Investment Advisers raised its holdings in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares in the last quarter. OFI Invest Asset Management raised its holdings in American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 9,805 shares in the last quarter. Bessemer Group Inc. raised its holdings in American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 11,149 shares in the last quarter. Coronation Fund Managers Ltd. bought a new position in American International Group in the first quarter worth $1,367,000. Finally, Illinois Municipal Retirement Fund raised its holdings in American International Group by 19.0% in the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock worth $12,206,000 after purchasing an additional 24,906 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

AIG has been the subject of a number of research reports. Citigroup decreased their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Evercore ISI cut their target price 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. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Wells Fargo & Company cut their target price on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen cut their target price on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and an average price target of $84.38.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

American International Group Trading Down 1.2 %

American International Group stock opened at $75.88 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a one year low of $60.82 and a one year high of $80.83. The stock has a market capitalization of $48.86 billion, a PE ratio of -58.82, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The business’s fifty day moving average is $75.08 and its 200 day moving average is $75.56.

American International Group (NYSE:AIG) last posted its earnings results 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). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the company posted $1.75 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts predict that American International Group, Inc. will post 5.09 EPS for the current year.

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.