Cornerstone Advisors LLC Boosts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Cornerstone Advisors LLC grew its holdings in American International Group, Inc. (NYSE:AIG) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the insurance provider’s stock after buying an additional 1,200 shares during the quarter. Cornerstone Advisors LLC’s holdings in American International Group were worth $1,456,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AIG. Wellington Management Group LLP raised its position in American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after acquiring an additional 6,119,996 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after purchasing an additional 722,237 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in American International Group by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock valued at $677,825,000 after buying an additional 347,982 shares in the last quarter. Franklin Resources Inc. lifted its stake in American International Group by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock valued at $713,272,000 after buying an additional 457,821 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in American International Group by 0.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock worth $543,091,000 after buying an additional 59,180 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AIG shares. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price target on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their target price on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $79.00 target price (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Activity

In other American International Group news, Director John G. Rice acquired 10,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Stock Up 0.5 %

Shares of NYSE:AIG opened at $81.94 on Tuesday. The firm has a 50 day simple moving average of $75.54 and a 200-day simple moving average of $75.11. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $83.77. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $48.62 billion, a PE ratio of -39.39, a P/E/G ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. American International Group’s dividend payout ratio is presently -76.92%.

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.