The Manufacturers Life Insurance Company Buys 20,545 Shares of American International Group, Inc. (NYSE:AIG)

The Manufacturers Life Insurance Company raised its position in shares of American International Group, Inc. (NYSE:AIG) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 792,181 shares of the insurance provider’s stock after purchasing an additional 20,545 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in American International Group were worth $58,011,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AIG. Cetera Investment Advisers raised its stake in American International Group by 348.6% during the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares in the last quarter. OFI Invest Asset Management lifted its holdings in shares of American International Group by 2,208.3% in the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 9,805 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in American International Group by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after acquiring an additional 10,581 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in American International Group during the third quarter worth approximately $494,000. Finally, Victory Capital Management Inc. raised its position in American International Group by 6.1% during the second quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock valued at $69,748,000 after purchasing an additional 54,419 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

NYSE AIG opened at $77.13 on Thursday. The firm’s 50 day moving average price is $75.69 and its 200-day moving average price is $75.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $48.11 billion, a PE ratio of -22.75, a P/E/G ratio of 7.53 and a beta of 1.05. American International Group, Inc. has a 52-week low of $64.54 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates 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 firm posted $1.61 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.07%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AIG. Jefferies Financial Group raised their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Evercore ISI reduced their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

American International Group 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.