Morton Community Bank Grows Stock Position in American International Group, Inc. (NYSE:AIG)

Morton Community Bank increased its stake in American International Group, Inc. (NYSE:AIG) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,945 shares of the insurance provider’s stock after acquiring an additional 2,030 shares during the period. Morton Community Bank’s holdings in American International Group were worth $3,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in American International Group during the 4th quarter valued at $746,005,000. Swedbank AB purchased a new position in shares of American International Group during the first quarter valued at approximately $99,951,000. Canada Pension Plan Investment Board raised its holdings in shares of American International Group by 98.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after acquiring an additional 941,607 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in American International Group by 95.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock worth $82,772,000 after acquiring an additional 597,661 shares during the period. Finally, Third Point LLC boosted its holdings in American International Group by 16.9% in the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after acquiring an additional 500,000 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

American International Group Stock Down 2.6 %

Shares of AIG stock traded down $1.93 during mid-day trading on Friday, hitting $71.91. The company’s stock had a trading volume of 7,205,390 shares, compared to its average volume of 4,151,511. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 52-week low of $57.72 and a 52-week high of $80.83. The stock has a market cap of $47.72 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 3.84 and a beta of 1.06. The business has a 50-day moving average price of $75.02 and a 200 day moving average price of $75.60.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.75 earnings per share. Research analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AIG shares. Barclays began coverage on shares of American International Group in a research report on Wednesday. They issued an “overweight” rating and a $90.00 target price for the company. Evercore ISI cut their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Morgan Stanley dropped their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus target price of $83.88.

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.