Cornerstone Advisors LLC Buys 300 Shares of American International Group, Inc. (NYSE:AIG)

Cornerstone Advisors LLC increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,800 shares of the insurance provider’s stock after purchasing an additional 300 shares during the quarter. Cornerstone Advisors LLC’s holdings in American International Group were worth $1,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. grew its stake in shares of American International Group by 5.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after buying an additional 722,237 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in American International Group by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after acquiring an additional 269,188 shares during the period. Massachusetts Financial Services Co. MA grew its position in American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock valued at $233,743,000 after acquiring an additional 198,889 shares during the last quarter. APG Asset Management N.V. increased its stake in American International Group by 13.3% in the second quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock worth $152,411,000 after purchasing an additional 258,700 shares during the period. Finally, National Pension Service lifted its position in shares of American International Group by 5.1% during the third quarter. National Pension Service now owns 2,186,421 shares of the insurance provider’s stock worth $160,112,000 after purchasing an additional 105,213 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was 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 directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG opened at $76.09 on Friday. The firm has a market capitalization of $47.46 billion, a price-to-earnings ratio of -22.45, a price-to-earnings-growth ratio of 7.45 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 business’s 50 day simple moving average is $75.44 and its 200-day simple moving average is $75.65. American International Group, Inc. has a 12 month low of $64.54 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $1.61 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lowered their price target on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Piper Sandler reduced their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. UBS Group upped their target price on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.