Independent Advisor Alliance Grows Stock Holdings in American International Group, Inc. (NYSE:AIG)

Independent Advisor Alliance grew its holdings in American International Group, Inc. (NYSE:AIG) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,393 shares of the insurance provider’s stock after acquiring an additional 161 shares during the period. Independent Advisor Alliance’s holdings in American International Group were worth $761,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AIG. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group in the 3rd quarter valued at $26,000. Fortitude Family Office LLC lifted its stake in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the period. Y.D. More Investments Ltd acquired a new position in shares of American International Group in the 2nd quarter valued at $27,000. Versant Capital Management Inc lifted its stake in shares of American International Group by 326.0% in the 2nd 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. Finally, Ashton Thomas Securities LLC acquired a new position in shares of American International Group in the 3rd quarter valued at $46,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIG has been the subject of several analyst reports. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. Jefferies Financial Group boosted their target price on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays started coverage on shares of American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. Evercore ISI reduced 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 research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upgraded 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. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

Insider Activity at American International Group

In related 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 shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

American International Group Price Performance

Shares of NYSE AIG opened at $77.13 on Thursday. The firm has a 50-day simple moving average of $75.69 and a 200-day simple moving average of $75.51. The stock has a market capitalization of $48.11 billion, a price-to-earnings ratio of -22.75, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. 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 announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. On average, equities analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 annualized dividend and a yield of 2.07%. American International Group’s dividend payout ratio (DPR) is -47.20%.

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.