American International Group, Inc. (NYSE:AIG) Shares Purchased by M&T Bank Corp

M&T Bank Corp grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 329.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 98,964 shares of the insurance provider’s stock after buying an additional 75,894 shares during the period. M&T Bank Corp’s holdings in American International Group were worth $7,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Forum Financial Management LP grew its holdings in American International Group by 1.1% during the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after acquiring an additional 128 shares during the period. EagleClaw Capital Managment LLC grew its stake in shares of American International Group by 0.5% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock worth $2,225,000 after purchasing an additional 150 shares during the period. Independent Advisor Alliance increased its holdings in shares of American International Group by 1.6% in the 3rd quarter. Independent Advisor Alliance now owns 10,393 shares of the insurance provider’s stock valued at $761,000 after purchasing an additional 161 shares in the last quarter. Graypoint LLC lifted its stake in shares of American International Group by 2.0% in the third quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock valued at $635,000 after purchasing an additional 167 shares during the period. Finally, Commerce Bank boosted its holdings in American International Group by 1.0% during the third quarter. Commerce Bank now owns 17,234 shares of the insurance provider’s stock worth $1,262,000 after buying an additional 172 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AIG. Barclays started coverage on American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods cut 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 report on Tuesday, November 12th. Finally, Jefferies Financial Group increased their price target on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and an average price target of $84.80.

American International Group Stock Up 2.3 %

Shares of NYSE:AIG opened at $72.69 on Monday. The firm has a market cap of $45.34 billion, a price-to-earnings ratio of -21.44, a PEG ratio of 7.30 and a beta of 1.05. American International Group, Inc. has a 12-month low of $65.78 and a 12-month high of $80.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $75.62 and its two-hundred day moving average price is $74.97.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion for 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 last year, the company earned $1.61 earnings per share. On average, research analysts forecast that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is currently -47.20%.

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.