Watts Gwilliam & Co. LLC Purchases New Position in American International Group, Inc. (NYSE:AIG)

by · The Cerbat Gem

Watts Gwilliam & Co. LLC acquired a new position in shares of American International Group, Inc. (NYSE:AIG – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,330 shares of the insurance provider’s stock, valued at approximately $547,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Cetera Investment Advisers increased its stake in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the period. OFI Invest Asset Management lifted its stake in shares of American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares in the last quarter. Bessemer Group Inc. boosted its holdings in American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after purchasing an additional 11,149 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in American International Group during the 1st quarter valued at approximately $1,367,000. Finally, Illinois Municipal Retirement Fund increased its holdings in American International Group by 19.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock worth $12,206,000 after purchasing an additional 24,906 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by corporate insiders.

American International Group Stock Performance

NYSE:AIG opened at $77.23 on Friday. The stock has a market capitalization of $49.73 billion, a P/E ratio of -59.87, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1 year low of $58.69 and a 1 year high of $80.83. The firm has a 50 day moving average of $73.76 and a 200-day moving average of $75.51.

American International Group (NYSE:AIG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the company earned $1.75 EPS. The firm’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that American International Group, Inc. will post 5.09 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently -124.03%.

Wall Street Analyst Weigh In

AIG has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $93.00 to $89.00 in a report on Thursday. Citigroup reduced their price target on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods lowered their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, Morgan Stanley decreased their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.50.

Get Our Latest Stock Report on AIG

American International Group Profile

(Free Report)

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.

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