Edgestream Partners L.P. Invests $295,000 in American International Group, Inc. (NYSE:AIG)

Edgestream Partners L.P. acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,023 shares of the insurance provider’s stock, valued at approximately $295,000.

Other large investors have also recently added to or reduced their stakes in the company. Auxier Asset Management grew its holdings in shares of American International Group by 2.9% during the 3rd quarter. Auxier Asset Management now owns 109,206 shares of the insurance provider’s stock valued at $7,997,000 after acquiring an additional 3,032 shares in the last quarter. Captrust Financial Advisors boosted its position in American International Group by 5.8% during the third quarter. Captrust Financial Advisors now owns 44,908 shares of the insurance provider’s stock valued at $3,289,000 after purchasing an additional 2,469 shares during the last quarter. Centric Wealth Management grew its stake in American International Group by 2.4% in the third quarter. Centric Wealth Management now owns 33,692 shares of the insurance provider’s stock valued at $2,595,000 after purchasing an additional 790 shares in the last quarter. Vinva Investment Management Ltd increased its position in American International Group by 12.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 30,763 shares of the insurance provider’s stock worth $2,256,000 after purchasing an additional 3,424 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of American International Group during the 3rd quarter worth about $501,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Down 0.8 %

American International Group stock opened at $75.54 on Friday. American International Group, Inc. has a 52 week low of $64.81 and a 52 week high of $80.83. 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 firm has a market capitalization of $47.12 billion, a PE ratio of -22.28, a PEG ratio of 7.45 and a beta of 1.05. The business’s 50-day simple moving average is $76.00 and its 200-day simple moving average is $75.41.

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

American International Group Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is currently -47.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AIG shares. Wells Fargo & Company lowered their price target on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. 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 report on Wednesday, October 9th. Finally, Jefferies Financial Group raised their target price on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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 stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

About American International Group

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.