Hartford Funds Management Co LLC Increases Stock Position in American International Group, Inc. (NYSE:AIG)

Hartford Funds Management Co LLC boosted its holdings in American International Group, Inc. (NYSE:AIG) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,827 shares of the insurance provider’s stock after purchasing an additional 342 shares during the quarter. Hartford Funds Management Co LLC’s holdings in American International Group were worth $1,086,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AIG. EP Wealth Advisors LLC boosted its stake in shares of American International Group by 4.9% during the first quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock worth $276,000 after buying an additional 165 shares during the period. Advisors Asset Management Inc. grew its stake in shares of American International Group by 27.8% in the 1st quarter. Advisors Asset Management Inc. now owns 17,459 shares of the insurance provider’s stock valued at $1,365,000 after purchasing an additional 3,793 shares during the last quarter. LRI Investments LLC acquired a new position in shares of American International Group in the first quarter valued at approximately $112,000. Lazard Asset Management LLC raised its stake in shares of American International Group by 61.6% during the first quarter. Lazard Asset Management LLC now owns 276,002 shares of the insurance provider’s stock worth $21,574,000 after purchasing an additional 105,218 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of American International Group by 7.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 29,286 shares of the insurance provider’s stock worth $2,289,000 after purchasing an additional 1,982 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Up 0.1 %

AIG stock opened at $76.06 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50 day simple moving average is $75.50 and its 200-day simple moving average is $75.59. American International Group, Inc. has a 12 month low of $64.54 and a 12 month high of $80.83. The firm has a market capitalization of $47.44 billion, a PE ratio of -22.44, a P/E/G ratio of 7.52 and a beta of 1.05.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the business posted $1.61 earnings per share. Equities analysts expect that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid 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 2.10%. American International Group’s dividend payout ratio is currently -47.20%.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on 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 owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays initiated 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. Keefe, Bruyette & Woods lowered their price objective on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Bank of America increased their target price on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen decreased their price target on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.80.

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.