Advisors Asset Management Inc. Sells 1,192 Shares of American International Group, Inc. (NYSE:AIG)

Advisors Asset Management Inc. lowered its holdings in shares of American International Group, Inc. (NYSE:AIG) by 6.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,372 shares of the insurance provider’s stock after selling 1,192 shares during the period. Advisors Asset Management Inc.’s holdings in American International Group were worth $1,199,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Cetera Investment Advisers lifted its holdings in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the period. OFI Invest Asset Management lifted its stake in shares of 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 acquiring an additional 9,805 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in American International Group by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after acquiring an additional 10,581 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in American International Group during the 3rd quarter valued at approximately $494,000. Finally, Victory Capital Management Inc. raised its holdings in American International Group by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock worth $69,748,000 after purchasing an additional 54,419 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the company’s 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company decreased 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. Keefe, Bruyette & Woods dropped 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 upped their target price on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.80.

American International Group Trading Down 0.1 %

AIG opened at $75.98 on Tuesday. American International Group, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $80.83. The firm has a market capitalization of $47.39 billion, a PE ratio of -22.41, a P/E/G ratio of 7.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50-day moving average is $75.56 and its 200 day moving average is $75.53.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for 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 quarter last year, the company earned $1.61 earnings per share. As a group, research analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. American International Group’s payout ratio is -47.20%.

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.