Mirae Asset Global Investments Co. Ltd. Increases Holdings in American International Group, Inc. (NYSE:AIG)

Mirae Asset Global Investments Co. Ltd. raised its position in American International Group, Inc. (NYSE:AIG) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,973 shares of the insurance provider’s stock after purchasing an additional 4,089 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American International Group were worth $8,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in American International Group by 18.7% in the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after purchasing an additional 319,948 shares during the period. American Century Companies Inc. raised its position in American International Group by 22.6% in the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after purchasing an additional 77,874 shares during the period. Tritonpoint Wealth LLC purchased a new stake in American International Group in the 4th quarter worth about $1,072,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in American International Group by 12.9% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 581,239 shares of the insurance provider’s stock worth $39,379,000 after purchasing an additional 66,603 shares during the period. Finally, Ferguson Wellman Capital Management Inc. grew its stake in American International Group by 4.0% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 682,901 shares of the insurance provider’s stock worth $46,267,000 after acquiring an additional 26,401 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AIG. JPMorgan Chase & Co. upped their target price on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada upped their target price on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. TD Cowen began coverage on shares of American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price on the stock. HSBC began coverage on shares of American International Group in a research note on Thursday, December 28th. They issued a “buy” rating and a $86.00 target price on the stock. Finally, Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.35.

Insider Buying and Selling at American International Group

In related news, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.49% of the stock is owned by insiders.

American International Group Price Performance

Shares of AIG opened at $73.67 on Friday. The company has a market cap of $50.17 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.03. American International Group, Inc. has a twelve month low of $48.95 and a twelve month high of $78.95. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $73.77 and a two-hundred day moving average of $67.99.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. American International Group’s revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. As a group, analysts predict that American International Group, Inc. will post 7.11 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.95%. American International Group’s dividend payout ratio (DPR) is 28.86%.

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.