Lummis Asset Management LP Increases Stake in American International Group, Inc. (NYSE:AIG)

Lummis Asset Management LP boosted its stake in American International Group, Inc. (NYSE:AIG) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,319 shares of the insurance provider’s stock after buying an additional 1,507 shares during the period. American International Group accounts for approximately 2.7% of Lummis Asset Management LP’s portfolio, making the stock its 11th largest position. Lummis Asset Management LP’s holdings in American International Group were worth $2,293,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AIG. Forum Financial Management LP lifted its holdings in shares of American International Group by 1.1% during the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares during the last quarter. Quent Capital LLC raised its stake in American International Group by 4.0% during the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in American International Group by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in American International Group by 4.9% in the first quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock worth $276,000 after acquiring an additional 165 shares in the last quarter. Finally, Graypoint LLC grew its stake in shares of American International Group by 2.0% in the third quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock worth $635,000 after acquiring an additional 167 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG traded down $0.09 during midday trading on Thursday, hitting $76.00. The company had a trading volume of 145,449 shares, compared to its average volume of 4,107,458. American International Group, Inc. has a 12-month low of $63.39 and a 12-month high of $80.83. The company has a fifty day moving average of $75.09 and a two-hundred day moving average of $75.68. The company has a market cap of $47.41 billion, a price-to-earnings ratio of -22.45, a PEG ratio of 7.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the previous year, the firm earned $1.61 EPS. On average, equities research analysts expect that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. American International Group’s payout ratio is -47.20%.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AIG shares. Barclays began coverage on American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. 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 stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Bank of America increased their price target on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group boosted their price objective on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company reduced their target price on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.13.

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.