Candriam S.C.A. Acquires 117,782 Shares of American International Group, Inc. $AIG

Key Points

• Candriam S.C.A. increased its AIG stake by 330.4% in the third quarter, adding 117,782 shares to reach 153,431 shares valued at about $11.46 million. Institutional investors and hedge funds collectively own 90.6% of AIG.
• AIG reported quarterly earnings of $2.06 per share, beating the $1.88 consensus estimate; revenue of $7.44 billion also edged past expectations.
• Analysts have a consensus “Hold” rating and an average price target of $87.84. AIG also declared a $0.50 quarterly dividend, equivalent to a 2.5% annualized yield.

Candriam S.C.A. increased its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 330.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,431 shares of the insurance provider's stock after buying an additional 117,782 shares during the quarter. Candriam S.C.A.'s holdings in American International Group were worth $11,460,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Wellington Management Group LLP lifted its stake in American International Group by 6.9% in the 2nd 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 last quarter. State Street Corp boosted its position in 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 buying an additional 196,969 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock worth $619,862,000 after buying an additional 474,035 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of American International Group during the second quarter worth $464,539,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of American International Group by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider's stock worth $462,147,000 after buying an additional 303,201 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

NYSE AIG opened at $79.57 on Tuesday. The company has a market capitalization of $41.61 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.85 and a beta of 0.48. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The stock has a fifty day simple moving average of $77.51 and a 200 day simple moving average of $76.98. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 EPS for the quarter, topping 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 the consensus estimate of $7.42 billion. During the same period in the previous year, the business earned $2.20 EPS. Sell-side analysts expect that American International Group, Inc. will post 8.10 EPS for the current year.

American International Group Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, December 16th. American International Group's dividend payout ratio (DPR) is 32.57%.

Insider Activity at American International Group

In related news, insider Peter Zaffino sold 200,000 shares of American International Group stock in a transaction that occurred 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 transaction, the insider directly owned 592,833 shares of the company's stock, valued at $45,333,939.51. The trade was 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 through 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.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of research reports. Mizuho reduced their price objective on American International Group from $85.00 to $83.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. Barclays increased their target price on American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods cut their price target on American International Group from $96.00 to $90.00 and set an "outperform" rating on the stock in a research note on Monday, October 12th. Royal Bank Of Canada boosted their price target on American International Group from $85.00 to $87.00 and gave the stock a "sector perform" rating in a report on Monday, August 10th. Finally, Bank of America restated a "neutral" rating on shares of American International Group in a report on Wednesday, November 4th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $87.84.

About American International Group

American International Group, Inc (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets.

AIG's principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

AIG provides insurance through its subsidiaries and operates across a range of markets worldwide.

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