Point72 Hong Kong Ltd Takes $3.44 Million Position in American International Group, Inc. (NYSE:AIG)

Point72 Hong Kong Ltd bought a new position in shares of American International Group, Inc. (NYSE:AIG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,015 shares of the insurance provider’s stock, valued at approximately $3,443,000.

A number of other hedge funds have also recently added to or reduced their stakes in AIG. Paradigm Capital Management LLC NV acquired a new stake in shares of American International Group in the third quarter worth approximately $659,000. True Wealth Design LLC purchased a new position in American International Group during the third quarter worth approximately $29,000. Edgestream Partners L.P. acquired a new position in shares of American International Group in the 3rd quarter valued at $295,000. Auxier Asset Management grew its stake in shares of American International Group by 2.9% during the 3rd quarter. Auxier Asset Management now owns 109,206 shares of the insurance provider’s stock valued at $7,997,000 after buying an additional 3,032 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of American International Group by 5.8% during the 3rd quarter. Captrust Financial Advisors now owns 44,908 shares of the insurance provider’s stock worth $3,289,000 after buying an additional 2,469 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 dated 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 sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

American International Group Stock Down 0.3 %

NYSE:AIG opened at $76.88 on Friday. The firm has a 50-day moving average of $75.82 and a two-hundred day moving average of $75.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a 1-year low of $64.81 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the business posted $1.61 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 dividend on an annualized basis and a dividend yield of 2.08%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AIG shares. UBS Group lifted their target price on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Evercore ISI decreased their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. TD Cowen cut their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.80.

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.