American International Group, Inc. $AIG Stock Bought by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its AIG position by 165% in the third quarter, bringing its holdings to 25,826 shares valued at approximately $1.92 million. Institutional investors collectively own 90.6% of AIG.
• Insider Peter Zaffino sold 200,000 shares for about $15.3 million under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 25.23%.
• AIG reported quarterly EPS of $2.00, beating estimates of $1.92, and maintains a quarterly dividend of $0.50 per share. Analysts have a consensus “Hold” rating and an average price target of $87.68.

Farther Finance Advisors LLC lifted its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 165.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 25,826 shares of the insurance provider's stock after buying an additional 16,080 shares during the period. Farther Finance Advisors LLC's holdings in American International Group were worth $1,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in American International Group during the second quarter valued at approximately $496,890,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of American International Group during the second quarter valued at about $464,539,000. Wellington Management Group LLP increased its holdings in American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider's stock worth $2,260,622,000 after purchasing an additional 1,961,270 shares during the last quarter. Man Group plc raised its holdings in American International Group by 104.6% in the second quarter. Man Group plc now owns 3,612,368 shares of the insurance provider's stock valued at $269,230,000 after acquiring an additional 1,847,194 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of American International Group by 197.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 827,288 shares of the insurance provider's stock valued at $62,253,000 after purchasing an additional 1,678,585 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

American International Group Trading Down 0.2%

Shares of AIG stock opened at $77.46 on Thursday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The business's 50 day moving average is $76.06 and its two-hundred day moving average is $76.53. The company has a market cap of $40.50 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.81 and a beta of 0.52.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the previous year, the company earned $1.81 earnings per share. Equities analysts predict that American International Group, Inc. will post 8.07 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group's payout ratio is currently 36.56%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AIG shares. UBS Group lifted their price target on shares of American International Group from $98.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Barclays boosted their price objective 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. Royal Bank Of Canada raised their target price on shares of American International Group from $85.00 to $87.00 and gave the stock a "sector perform" rating in a report on Monday, August 10th. Weiss Ratings reiterated a "buy (b-)" rating on shares of American International Group in a research report on Tuesday, September 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, American International Group has an average rating of "Hold" and a consensus price target of $87.68.

American International Group Company Profile

American International Group, Inc NYSE: AIG is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.

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