9,862,810 Shares in American International Group, Inc. (NYSE:AIG) Purchased by Norges Bank

Norges Bank acquired a new stake in American International Group, Inc. (NYSE:AIG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,862,810 shares of the insurance provider’s stock, valued at approximately $718,013,000.

Other hedge funds have also modified their holdings of the company. Kingsview Wealth Management LLC grew its position in shares of American International Group by 6.2% in the 3rd quarter. Kingsview Wealth Management LLC now owns 7,209 shares of the insurance provider’s stock valued at $528,000 after buying an additional 423 shares during the last quarter. Fisher Asset Management LLC purchased a new position in shares of American International Group during the third quarter worth about $291,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of American International Group during the third quarter worth about $599,000. Independent Advisor Alliance boosted its position 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 during the period. Finally, The Manufacturers Life Insurance Company grew its stake in American International Group by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 792,181 shares of the insurance provider’s stock worth $58,011,000 after buying an additional 20,545 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John G. Rice purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AIG shares. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. UBS Group decreased their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods upped their price target on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. dropped their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $79.00 target price (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Performance

Shares of AIG opened at $84.60 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $78.36 and a two-hundred day moving average of $75.83. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $85.11. The stock has a market cap of $50.19 billion, a P/E ratio of -40.67, a PEG ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. American International Group’s dividend payout ratio (DPR) is -76.92%.

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.