Adage Capital Partners GP L.L.C. Buys 645,800 Shares of American International Group, Inc. (NYSE:AIG)

Adage Capital Partners GP L.L.C. raised its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 354.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 827,838 shares of the insurance provider's stock after buying an additional 645,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.13% of American International Group worth $60,267,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of American International Group during the 4th quarter valued at about $718,013,000. Wellington Management Group LLP lifted its holdings in shares of American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of American International Group during the 4th quarter valued at about $95,074,000. Franklin Resources Inc. lifted its holdings in shares of American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock valued at $760,528,000 after purchasing an additional 1,284,354 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of American International Group by 70.6% during the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider's stock valued at $154,896,000 after purchasing an additional 880,625 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. The Goldman Sachs Group boosted their target price on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Hsbc Global Res upgraded shares of American International Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Evercore ISI lifted their price objective on shares of American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. HSBC raised shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley lifted their price objective on shares of American International Group from $76.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, April 4th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.65.

American International Group Stock Performance

American International Group stock traded up $0.05 during midday trading on Tuesday, hitting $81.98. The company's stock had a trading volume of 778,045 shares, compared to its average volume of 4,443,311. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50-day moving average price of $81.79 and a two-hundred day moving average price of $77.23. The company has a market cap of $48.82 billion, a price-to-earnings ratio of -39.37, a PEG ratio of 1.01 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share 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%. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, March 17th. American International Group's payout ratio is presently -76.92%.

Insider Activity

In other news, Director John G. Rice bought 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares of the company's stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.61% of the company's stock.

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.