American International Group, Inc. (NYSE:AIG) Shares Acquired by NorthCrest Asset Manangement LLC

by · The Markets Daily

NorthCrest Asset Manangement LLC lifted its holdings in American International Group, Inc. (NYSE:AIG – Free Report) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,568 shares of the insurance provider’s stock after buying an additional 1,319 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in American International Group were worth $1,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Christopher J. Hasenberg Inc acquired a new stake in shares of American International Group in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC lifted its stake in shares of American International Group by 199.2% during 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 period. Y.D. More Investments Ltd acquired a new stake in American International Group during the second quarter worth approximately $27,000. Valued Wealth Advisors LLC boosted its holdings in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Finally, Versant Capital Management Inc grew 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 purchasing an additional 339 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of NYSE:AIG opened at $76.82 on Friday. The business’s 50-day simple moving average is $74.90 and its 200 day simple moving average is $75.50. The company has a market cap of $50.98 billion, a P/E ratio of 11.47, a PEG ratio of 3.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a one year low of $59.12 and a one year high of $80.83.

American International Group (NYSE:AIG – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 EPS. On average, sell-side analysts forecast that American International Group, Inc. will post 5.09 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, September 30th. Shareholders of record on Monday, September 16th were given a $0.40 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. American International Group’s payout ratio is currently 23.88%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley reduced their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group raised their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group upped their price target on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company decreased their price target on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.38.

View Our Latest Stock Analysis on AIG

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

About American International Group

(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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