PNC Financial Services Group Inc. Raises Stock Holdings in American International Group, Inc. (NYSE:AIG)

PNC Financial Services Group Inc. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,783 shares of the insurance provider’s stock after acquiring an additional 1,526 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American International Group were worth $15,582,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Diamond Hill Capital Management Inc. increased its stake in American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after buying an additional 722,237 shares during the period. Dimensional Fund Advisors LP grew its stake 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of American International Group by 6.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock worth $233,743,000 after acquiring an additional 198,889 shares during the period. APG Asset Management N.V. raised its stake in shares of 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 acquiring an additional 258,700 shares in the last quarter. Finally, National Pension Service grew its stake in American International Group by 5.1% in 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 in the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AIG shares. Keefe, Bruyette & Woods decreased their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Bank of America boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. Finally, TD Cowen reduced their price objective 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. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.80.

American International Group Stock Performance

AIG opened at $76.09 on Friday. The company has a market cap of $47.46 billion, a P/E ratio of -22.45, a price-to-earnings-growth ratio of 7.45 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. The firm’s 50-day moving average price is $75.44 and its 200-day moving average price is $75.65. American International Group, Inc. has a 52-week low of $64.54 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The business 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 quarter last year, the company posted $1.61 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.10%. American International Group’s payout ratio is presently -47.20%.

Insider Activity

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 sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.