Alberta Investment Management Corp Acquires New Holdings in American International Group, Inc. (NYSE:AIG)

Alberta Investment Management Corp acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,500 shares of the insurance provider’s stock, valued at approximately $692,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after purchasing an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of American International Group by 5.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Franklin Resources Inc. grew its holdings in American International Group by 5.3% during the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after acquiring an additional 457,821 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in American International Group by 0.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock worth $543,091,000 after acquiring an additional 59,180 shares during the period. Finally, Barclays PLC grew its holdings in American International Group by 24.7% during the third quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock worth $201,286,000 after acquiring an additional 544,110 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AIG shares. Morgan Stanley lifted their target price on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. UBS Group lowered their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 target price (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.94.

American International Group Trading Up 0.6 %

Shares of NYSE AIG opened at $76.72 on Friday. American International Group, Inc. has a one year low of $68.65 and a one year high of $80.83. The firm has a market capitalization of $45.52 billion, a PE ratio of -36.88, a PEG ratio of 1.00 and a beta of 1.05. 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 business has a 50-day moving average price of $73.68 and a two-hundred day moving average price of $74.51.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. American International Group’s payout ratio is presently -76.92%.

Insider Activity

In other news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

American International Group Profile

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.