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

Independent Advisor Alliance boosted its position in shares of American International Group, Inc. (NYSE:AIG) by 56.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,211 shares of the insurance provider’s stock after buying an additional 5,818 shares during the period. Independent Advisor Alliance’s holdings in American International Group were worth $1,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of American International Group by 32.4% in the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares during the period. Prana Capital Management LP grew its position in American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after purchasing an additional 1,391,859 shares during the last quarter. Raymond James Financial Inc. purchased a new position in American International Group during the 4th quarter worth $95,074,000. Swedbank AB increased its stake in American International Group by 70.6% in the fourth quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock valued at $154,896,000 after purchasing an additional 880,625 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in shares of American International Group by 9,790.9% in the fourth quarter. Proficio Capital Partners LLC now owns 690,185 shares of the insurance provider’s stock valued at $50,245,000 after buying an additional 683,207 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price target on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price objective on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their target price on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, UBS Group dropped their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Up 2.2 %

Shares of NYSE:AIG opened at $83.37 on Friday. The company has a market capitalization of $49.47 billion, a P/E ratio of -40.08, a P/E/G ratio of 1.01 and a beta of 0.98. The stock’s fifty day simple moving average is $76.25 and its 200-day simple moving average is $75.30. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $83.77. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio is presently -76.92%.

Insider Transactions at American International Group

In related news, Director John G. Rice bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

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.