Dai ichi Life Insurance Company Ltd Acquires 15,000 Shares of American International Group, Inc. (NYSE:AIG)

Dai ichi Life Insurance Company Ltd raised its holdings in American International Group, Inc. (NYSE:AIG) by 179.8% during the third quarter, HoldingsChannel.com reports. The fund owned 23,344 shares of the insurance provider’s stock after purchasing an additional 15,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in American International Group were worth $1,709,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers grew its holdings in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management boosted its position in American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after buying an additional 9,805 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of American International Group by 8.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after buying an additional 10,581 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in shares of American International Group during the third quarter worth $494,000. Finally, Victory Capital Management Inc. lifted its stake in shares of American International Group by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock valued at $69,748,000 after acquiring an additional 54,419 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

AIG has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Barclays started coverage on American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Wells Fargo & Company reduced their target price on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.80.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Up 1.1 %

Shares of NYSE:AIG opened at $77.13 on Thursday. The business’s 50-day moving average is $75.69 and its 200-day moving average is $75.51. American International Group, Inc. has a 1 year low of $64.54 and a 1 year high of $80.83. The company has a market capitalization of $48.11 billion, a price-to-earnings ratio of -22.75, a P/E/G ratio of 7.53 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.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the prior year, the business earned $1.61 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

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.