Cornerstone Advisors LLC Has $1.38 Million Holdings in American International Group, Inc. (NYSE:AIG)

Cornerstone Advisors LLC boosted its holdings in American International Group, Inc. (NYSE:AIG) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,800 shares of the insurance provider’s stock after acquiring an additional 300 shares during the quarter. Cornerstone Advisors LLC’s holdings in American International Group were worth $1,377,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. EagleClaw Capital Managment LLC boosted its position in shares of American International Group by 0.5% during the third quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock valued at $2,225,000 after buying an additional 150 shares during the last quarter. Commerce Bank lifted its stake in American International Group by 1.0% during the 3rd quarter. Commerce Bank now owns 17,234 shares of the insurance provider’s stock valued at $1,262,000 after acquiring an additional 172 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in American International Group by 0.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 212,783 shares of the insurance provider’s stock worth $15,582,000 after acquiring an additional 1,526 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of American International Group in the third quarter valued at about $1,702,000. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of American International Group by 12.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 27,437 shares of the insurance provider’s stock valued at $2,009,000 after purchasing an additional 2,995 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction 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 transaction, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $76.09 on Friday. The company’s 50 day moving average is $75.44 and its 200-day moving average is $75.65. The firm 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. American International Group, Inc. has a 12-month low of $64.54 and a 12-month high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted 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 firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.61 earnings per share. Sell-side analysts predict that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.10%. American International Group’s dividend payout ratio is currently -47.20%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIG. UBS Group upped their price objective on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group upped their target price on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price target on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Finally, StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.