American International Group, Inc. $AIG Stock Purchased by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group more than doubled its AIG position in the third quarter, adding 13,423 shares to own 25,391 shares valued at approximately $1.89 million. Institutional investors collectively hold 90.6% of AIG’s outstanding stock.
• AIG shares opened at $81.12, with a market capitalization of $42.42 billion and a price-to-earnings ratio of 9.83. The insurer’s latest quarterly earnings of $2.00 per share exceeded analyst expectations, while revenue came in below estimates.
• AIG maintains a quarterly dividend of $0.50 per share, equivalent to a 2.5% yield. Analysts’ consensus rating is Hold, with an average price target of $87.68.

Citizens Financial Group Inc. RI boosted its position in American International Group, Inc. (NYSE:AIG - Free Report) by 112.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,391 shares of the insurance provider's stock after purchasing an additional 13,423 shares during the period. Citizens Financial Group Inc. RI's holdings in American International Group were worth $1,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of American International Group by 6.9% during the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider's stock valued at $2,260,622,000 after purchasing an additional 1,961,270 shares during the period. State Street Corp boosted its stake in American International Group by 0.8% during the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider's stock valued at $1,871,852,000 after purchasing an additional 196,969 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in American International Group by 6.1% in the 1st 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 during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of American International Group in the second quarter valued at $464,539,000. Finally, Dimensional Fund Advisors LP raised its stake in American International Group by 5.2% during the 1st 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.

American International Group Stock Down 0.2%

Shares of NYSE:AIG opened at $81.12 on Tuesday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. 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 stock has a fifty day simple moving average of $76.59 and a two-hundred day simple moving average of $76.64. The stock has a market capitalization of $42.42 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.85 and a beta of 0.52.

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

American International Group Dividend Announcement

The business 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. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, September 16th. American International Group's dividend payout ratio (DPR) is 36.56%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIG. Argus reiterated a "buy" rating and set a $90.00 price objective on shares of American International Group in a report on Wednesday, September 2nd. Morgan Stanley decreased their price target on American International Group from $81.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 6th. JPMorgan Chase & Co. upped their target price on shares of American International Group from $86.00 to $90.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Weiss Ratings reiterated a "buy (b-)" rating on shares of American International Group in a report on Tuesday, September 29th. Finally, Royal Bank Of Canada upped their price objective on American International Group from $85.00 to $87.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $87.68.

Insider Buying and Selling

In other news, insider Peter Zaffino sold 200,000 shares of the firm's stock in a transaction on 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 completion of the sale, the insider owned 592,833 shares of the company's stock, valued at $45,333,939.51. This trade represents a 25.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 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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