Principal Financial Group Inc. Purchases 9,118 Shares of American International Group, Inc. (NYSE:AIG)

Principal Financial Group Inc. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 734,460 shares of the insurance provider’s stock after purchasing an additional 9,118 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of American International Group worth $53,785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group in the third quarter worth about $26,000. Y.D. More Investments Ltd purchased a new stake in American International Group during the 2nd quarter valued at $27,000. True Wealth Design LLC purchased a new stake in shares of American International Group in the third quarter valued at $29,000. Continuum Advisory LLC grew its holdings in American International Group by 60.7% during the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 207 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of American International Group in the third quarter worth approximately $46,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG opened at $72.69 on Monday. The stock has a market cap of $45.34 billion, a P/E ratio of -21.44, a P/E/G ratio of 7.30 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. The firm has a fifty day moving average price of $75.62 and a 200 day moving average price of $74.97. American International Group, Inc. has a 1 year low of $65.78 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the company posted $1.61 EPS. Equities research analysts anticipate that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. American International Group’s dividend payout ratio is currently -47.20%.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research analyst reports. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Jefferies Financial Group upped their target price on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI dropped their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.