142,427 Shares in American International Group, Inc. $AIG Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 142,427 AIG shares in the third quarter, valued at approximately $10.6 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly adjusted EPS of $2.06, beating the $1.88 consensus, and revenue of $7.44 billion, slightly above estimates. However, catastrophe losses contributed to a 29% year-over-year decline in General Insurance underwriting income.
• AIG declared a quarterly dividend of $0.50 per share, or $2.00 annualized. Analysts’ average rating is Hold, with a consensus price target of $87.68.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 142,427 shares of the insurance provider's stock, valued at approximately $10,599,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of American International Group by 6.9% in the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider's stock worth $2,260,622,000 after acquiring an additional 1,961,270 shares in the last quarter. State Street Corp raised its stake in shares of American International Group by 0.8% in the second quarter. State Street Corp now owns 25,115,416 shares of the insurance provider's stock valued at $1,871,852,000 after acquiring an additional 196,969 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock valued at $619,862,000 after acquiring an additional 474,035 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in American International Group in the second quarter valued at $464,539,000. Finally, Dimensional Fund Advisors LP boosted its holdings in American International Group by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider's stock valued at $462,147,000 after purchasing an additional 303,201 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

More American International Group News

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: AIG earned adjusted EPS of $2.06, above analyst estimates of $1.88, while revenue of $7.44 billion also narrowly topped expectations. Broad-based premium growth and higher investment income supported results. AIG Q3 Earnings Beat Estimates on Strong Premium Growth
• Positive Sentiment: Management highlighted continued premium growth, profitability and progress toward its financial objectives on the earnings call, reinforcing the view that underwriting and business momentum remain constructive. AIG Earnings Call Highlights Growth and Underwriting Strength
• Positive Sentiment: AIG declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annualized, supporting shareholder returns. AIG dividend announcement
• Negative Sentiment: Elevated catastrophe losses weighed on results, and General Insurance underwriting income fell 29% year over year, tempering the strong headline earnings beat. AIG’s General Insurance Q3 Underwriting Income Down 29%

Wall Street Analysts Forecast Growth

AIG has been the subject of several analyst reports. Barclays boosted their target price on American International Group from $80.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Bank of America reiterated a "neutral" rating on shares of American International Group in a research note on Wednesday. Mizuho lowered their price objective on American International Group from $85.00 to $83.00 and set a "neutral" rating for the company in a research report on Wednesday, October 7th. UBS Group upped their target price on shares of American International Group from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Finally, Cantor Fitzgerald cut their target price on shares of American International Group from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $87.68.

Insider Activity

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider owned 592,833 shares in the company, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

American International Group Price Performance

American International Group stock opened at $81.60 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $77.36 and a 200-day simple moving average of $76.87. The stock has a market cap of $42.67 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.84 and a beta of 0.48. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 EPS for the quarter, beating the consensus estimate of $1.88 by $0.18. American International Group had a return on equity of 10.73% and a net margin of 11.86%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. Equities analysts expect that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, December 16th. American International Group's dividend payout ratio is currently 36.56%.

American International Group Company Profile

American International Group, Inc NYSE: AIG is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.

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