Norges Bank Makes New $718.01 Million Investment in American International Group, Inc. (NYSE:AIG)

Norges Bank purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,862,810 shares of the insurance provider’s stock, valued at approximately $718,013,000. Norges Bank owned approximately 1.58% of American International Group at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in American International Group by 32.4% in the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after purchasing an additional 6,119,996 shares during the period. Diamond Hill Capital Management Inc. raised its stake in American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares during the period. Bank of New York Mellon Corp lifted its holdings in American International Group by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after purchasing an additional 347,982 shares in the last quarter. Franklin Resources Inc. boosted its stake in American International Group by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after purchasing an additional 457,821 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in American International Group by 0.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after buying an additional 59,180 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American International Group

In other American International Group news, Director John G. Rice bought 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by insiders.

American International Group Stock Performance

AIG opened at $84.60 on Friday. The firm’s fifty day simple moving average is $78.36 and its two-hundred day simple moving average is $75.83. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $85.11. The company has a market cap of $50.19 billion, a price-to-earnings ratio of -40.67, a PEG ratio of 1.01 and a beta of 0.98. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio is currently -76.92%.

Analyst Upgrades and Downgrades

AIG has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price objective on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Finally, Morgan Stanley upped their price objective on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.31.

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.