The Manufacturers Life Insurance Company Purchases 19,007 Shares of American International Group, Inc. (NYSE:AIG)

The Manufacturers Life Insurance Company lifted its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 811,188 shares of the insurance provider's stock after acquiring an additional 19,007 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of American International Group worth $59,054,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in American International Group in the 4th quarter worth about $718,013,000. Wellington Management Group LLP grew its holdings in American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock worth $1,951,427,000 after buying an additional 1,791,964 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in American International Group in the 4th quarter valued at approximately $95,074,000. Franklin Resources Inc. raised its stake in 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 acquiring an additional 1,284,354 shares in the last quarter. Finally, Swedbank AB boosted its position in American International Group by 70.6% during the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider's stock worth $154,896,000 after acquiring an additional 880,625 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Trading Up 3.4 %

Shares of AIG stock traded up $2.71 during trading hours on Friday, reaching $83.55. 5,783,241 shares of the stock traded hands, compared to its average volume of 4,468,084. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $49.75 billion, a PE ratio of -40.17, a PEG ratio of 1.01 and a beta of 0.63. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The business has a fifty day moving average price of $82.13 and a 200 day moving average price of $77.36.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same period in the previous year, the business earned $1.25 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. American International Group's dividend payout ratio (DPR) is presently -76.92%.

Insider Buying and Selling at American International Group

In related news, Director John G. Rice bought 10,000 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now directly owns 10,000 shares of the company's stock, valued at approximately $770,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIG. Keefe, Bruyette & Woods cut their price objective on shares of American International Group from $98.00 to $94.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price target on shares of American International Group from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Evercore ISI raised 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 note on Tuesday, April 1st. Jefferies Financial Group boosted their target price on American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, HSBC upgraded American International Group from a "hold" rating to a "buy" rating and set a $93.00 target price for the company in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.71.

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.