EP Wealth Advisors LLC Grows Position in American International Group, Inc. (NYSE:AIG)

EP Wealth Advisors LLC grew its holdings in American International Group, Inc. (NYSE:AIG) by 61.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,173 shares of the insurance provider’s stock after purchasing an additional 2,739 shares during the quarter. EP Wealth Advisors LLC’s holdings in American International Group were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AIG. Wellington Management Group LLP boosted its position in American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in American International Group by 5.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in American International Group by 0.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after purchasing an additional 59,180 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of American International Group by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after buying an additional 269,188 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock valued at $233,743,000 after buying an additional 198,889 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AIG shares. UBS Group upped their price target on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays assumed coverage on shares of American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. Bank of America boosted their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Evercore ISI decreased their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Finally, BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average price target of $84.80.

American International Group Stock Up 0.9 %

Shares of AIG opened at $73.63 on Thursday. The stock’s 50-day moving average price is $76.07 and its 200-day moving average price is $75.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $45.93 billion, a price-to-earnings ratio of -21.54, a PEG ratio of 7.49 and a beta of 1.05. American International Group, Inc. has a 52 week low of $65.69 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the company earned $1.61 EPS. On average, sell-side analysts predict that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. American International Group’s payout ratio is -47.20%.

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.