7,209 American International Group, Inc. $AIG Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 48.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,234 shares of the insurance provider’s stock after purchasing an additional 7,209 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in American International Group were worth $1,713,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in American International Group in the second quarter worth $496,890,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of American International Group during the second quarter valued at $464,539,000. Wellington Management Group LLP boosted its holdings in shares of American International Group by 6.9% during the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares during the period. Man Group plc boosted its holdings in shares of American International Group by 104.6% during the second quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock valued at $269,230,000 after acquiring an additional 1,847,194 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of American International Group by 197.2% during the first quarter. Assenagon Asset Management S.A. now owns 827,288 shares of the insurance provider’s stock worth $62,253,000 after acquiring an additional 1,678,585 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AIG. UBS Group increased their price objective on shares of American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Morgan Stanley reduced their target price on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods decreased their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday. Finally, HSBC cut their price target on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.68.

American International Group Price Performance

Shares of NYSE AIG opened at $77.46 on Thursday. The stock has a market cap of $40.50 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.81 and a beta of 0.52. The firm’s 50-day simple moving average is $76.06 and its 200 day simple moving average is $76.53. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the prior year, the firm posted $1.81 EPS. Equities analysts expect that American International Group, Inc. will post 8.07 EPS for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.

Insider Activity

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.