Challenger Wealth Management Invests $269,000 in American International Group, Inc. (NYSE:AIG)

Challenger Wealth Management purchased a new position in American International Group, Inc. (NYSE:AIG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,700 shares of the insurance provider's stock, valued at approximately $269,000.

A number of other hedge funds have also recently added to or reduced their stakes in AIG. Capital Research Global Investors grew its position in American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock valued at $2,540,050,000 after acquiring an additional 482,724 shares during the period. Wellington Management Group LLP grew its position in American International Group by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock valued at $1,951,427,000 after acquiring an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock worth $1,029,905,000 after buying an additional 461,912 shares during the period. Franklin Resources Inc. boosted its position in shares of American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock worth $760,528,000 after buying an additional 1,284,354 shares during the period. Finally, Norges Bank purchased a new stake in shares of American International Group in the fourth quarter worth about $718,013,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

AIG traded down $0.45 during trading hours on Wednesday, hitting $82.72. The company's stock had a trading volume of 3,287,501 shares, compared to its average volume of 4,420,866. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. 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 firm has a market capitalization of $47.67 billion, a PE ratio of -39.77, a PEG ratio of 1.01 and a beta of 0.69. The company has a 50-day simple moving average of $82.45 and a 200 day simple moving average of $78.06.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. During the same period last year, the firm earned $1.25 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.45 dividend. This is a boost from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, June 13th. American International Group's dividend payout ratio (DPR) is currently -67.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. HSBC raised 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. Keefe, Bruyette & Woods increased their price target on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $91.00 price target (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Barclays increased their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, UBS Group cut their price objective on American International Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.12.

Insider Buying and Selling at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president now directly owns 21,400 shares of the company's stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

About American International Group

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.