Point72 Asia Singapore Pte. Ltd. Makes New Investment in American International Group, Inc. (NYSE:AIG)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of American International Group, Inc. (NYSE:AIG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,957 shares of the insurance provider’s stock, valued at approximately $1,828,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in American International Group during the third quarter worth about $26,000. Y.D. More Investments Ltd acquired a new position in shares of American International Group in the second quarter valued at approximately $27,000. Fortitude Family Office LLC raised its position in shares of American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after buying an additional 239 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of American International Group in the third quarter valued at approximately $29,000. Finally, Versant Capital Management Inc raised its position in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after buying an additional 339 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

AIG has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI decreased their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, October 9th. Finally, UBS Group boosted 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 note on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

American International Group Trading Down 0.3 %

AIG opened at $76.88 on Monday. The stock has a market capitalization of $47.96 billion, a PE ratio of -22.68, a P/E/G ratio of 7.62 and a beta of 1.05. American International Group, Inc. has a 12-month low of $64.81 and a 12-month high of $80.83. The firm’s fifty day moving average price is $75.82 and its 200 day moving average price is $75.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period in the prior year, the company earned $1.61 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $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 accessible 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.