KLP Kapitalforvaltning AS Purchases New Shares in American International Group, Inc. (NYSE:AIG)

KLP Kapitalforvaltning AS purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 228,985 shares of the insurance provider’s stock, valued at approximately $16,670,000.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after acquiring an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in American International Group by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after acquiring an additional 347,982 shares in the last quarter. Franklin Resources Inc. grew its holdings in American International Group by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after acquiring an additional 457,821 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in American International Group by 0.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock worth $543,091,000 after acquiring an additional 59,180 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AIG. Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $79.00 price target (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their price target on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Morgan Stanley raised their price target on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and an average target price of $84.31.

American International Group Trading Down 0.8 %

Shares of NYSE:AIG opened at $83.03 on Monday. The company has a market cap of $49.27 billion, a PE ratio of -39.92, a P/E/G ratio of 1.01 and a beta of 0.98. The company’s 50-day moving average price is $77.45 and its 200 day moving average price is $75.55. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $84.99. 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 EPS for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.93%. American International Group’s dividend payout ratio (DPR) is -76.92%.

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.