AIA Group Ltd Grows Position in American International Group, Inc. (NYSE:AIG)

AIA Group Ltd grew its stake in American International Group, Inc. (NYSE:AIG) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,845 shares of the insurance provider’s stock after buying an additional 852 shares during the period. AIA Group Ltd’s holdings in American International Group were worth $280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AIG. Wellington Management Group LLP increased its position in shares of American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after acquiring an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares during the period. Norges Bank acquired a new position in shares of American International Group in the fourth quarter valued at about $718,013,000. Bank of New York Mellon Corp raised its stake in shares of American International Group by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after purchasing an additional 347,982 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of American International Group by 5.3% during the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after purchasing an additional 457,821 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

AIG opened at $86.69 on Wednesday. The firm’s fifty day simple moving average is $79.00 and its two-hundred day simple moving average is $76.15. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $87.51. The company has a market cap of $51.43 billion, a price-to-earnings ratio of -41.68, a PEG ratio of 1.01 and a beta of 0.98. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

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

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio is currently -76.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group boosted their target price on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday. BMO Capital Markets increased their price target on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. Morgan Stanley boosted their price objective on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company raised their target price on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Insider Activity at American International Group

In other American International Group news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

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.