Allworth Financial LP Grows Stake in American International Group, Inc. $AIG

Allworth Financial LP lifted its stake in American International Group, Inc. (NYSE:AIG) by 132.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,457 shares of the insurance provider’s stock after buying an additional 7,101 shares during the period. Allworth Financial LP’s holdings in American International Group were worth $1,066,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GQG Partners LLC boosted its holdings in American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of American International Group by 22.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after purchasing an additional 1,694,290 shares during the period. Nuveen LLC acquired a new position in shares of American International Group during the first quarter worth $440,273,000. AQR Capital Management LLC boosted its stake in shares of American International Group by 184.4% in the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock valued at $287,214,000 after purchasing an additional 2,162,545 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of American International Group by 151.6% in the first quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock valued at $285,682,000 after purchasing an additional 1,980,001 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AIG shares. Keefe, Bruyette & Woods dropped their price target on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Morgan Stanley dropped their target price on American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. The Goldman Sachs Group boosted their price target on American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. raised their price objective on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Barclays lifted their price objective on American International Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

American International Group Stock Down 0.9%

NYSE:AIG opened at $77.68 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $41.91 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The stock has a 50-day simple moving average of $78.78 and a 200 day simple moving average of $81.04.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter last year, the business posted $1.23 EPS. Sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s payout ratio is currently 32.73%.

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.