Ceredex Value Advisors LLC Buys New Stake in American International Group, Inc. $AIG

Ceredex Value Advisors LLC purchased a new position in American International Group, Inc. (NYSE:AIG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 294,550 shares of the insurance provider’s stock, valued at approximately $21,953,000.

A number of other institutional investors also recently added to or reduced their stakes in AIG. Norges Bank bought a new position in shares of American International Group during the 4th quarter worth approximately $636,782,000. Bank of New York Mellon Corp bought a new stake in American International Group in the second quarter valued at $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in American International Group in the second quarter valued at $464,539,000. Price T Rowe Associates Inc. MD raised its stake in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AIG. UBS Group boosted their target price on shares of American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods lifted their price target on shares of American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Citigroup raised their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.28.

American International Group Stock Performance

Shares of NYSE:AIG opened at $75.59 on Friday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The firm has a market cap of $39.53 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.69 and a beta of 0.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The business has a fifty day moving average of $77.68 and a 200-day moving average of $76.97.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the previous year, the business posted $1.81 earnings per share. On average, equities research analysts predict that American International Group, Inc. will post 8.01 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s dividend payout ratio is presently 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares of the company’s stock, valued at $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.