Checchi Capital Advisers LLC grew its stake in shares of American International Group Inc (NYSE:AIG) by 9.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,509 shares of the insurance provider’s stock after purchasing an additional 648 shares during the quarter. Checchi Capital Advisers LLC’s holdings in American International Group were worth $418,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in AIG. Goelzer Investment Management Inc. increased its stake in American International Group by 1.0% during the third quarter. Goelzer Investment Management Inc. now owns 109,099 shares of the insurance provider’s stock worth $6,077,000 after acquiring an additional 1,058 shares during the last quarter. MRJ Capital Inc. increased its position in shares of American International Group by 1.6% during the 3rd quarter. MRJ Capital Inc. now owns 52,219 shares of the insurance provider’s stock valued at $2,908,000 after purchasing an additional 800 shares during the last quarter. Corient Capital Partners LLC increased its position in shares of American International Group by 13.1% during the 3rd quarter. Corient Capital Partners LLC now owns 5,333 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 619 shares during the last quarter. AE Wealth Management LLC bought a new position in American International Group during the third quarter valued at $221,000. Finally, BBVA USA Bancshares Inc. increased its position in American International Group by 2.9% during the third quarter. BBVA USA Bancshares Inc. now owns 126,785 shares of the insurance provider’s stock valued at $7,062,000 after acquiring an additional 3,530 shares during the last quarter. Hedge funds and other institutional investors own 90.99% of the company’s stock.
AIG has been the topic of a number of analyst reports. Zacks Investment Research cut shares of American International Group from a “buy” rating to a “hold” rating and set a $57.00 price objective on the stock. in a research report on Thursday, August 8th. Morgan Stanley reiterated a “buy” rating and set a $63.00 price objective on shares of American International Group in a research report on Monday, August 12th. ValuEngine upgraded shares of American International Group from a “strong sell” rating to a “sell” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of American International Group to $68.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $64.00 price target on shares of American International Group in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $59.20.
American International Group (NYSE:AIG) last issued its earnings results on Friday, November 1st. The insurance provider reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.43). The company had revenue of $11.99 billion during the quarter, compared to the consensus estimate of $12.03 billion. American International Group had a return on equity of 4.17% and a net margin of 3.56%. During the same quarter in the prior year, the company earned ($0.34) earnings per share. As a group, sell-side analysts forecast that American International Group Inc will post 4.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.36%. American International Group’s dividend payout ratio (DPR) is currently 109.40%.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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