142,427 Shares in American International Group, Inc. $AIG Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of American International Group, Inc. (NYSE:AIG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 142,427 shares of the insurance provider’s stock, valued at approximately $10,599,000.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 1,961,270 shares in the last quarter. State Street Corp raised 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 worth $1,871,852,000 after acquiring an additional 196,969 shares in the last quarter. Bank of New York Mellon Corp raised its stake in American International Group by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after acquiring an additional 474,035 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in American International Group in the second quarter valued at $464,539,000. Finally, Dimensional Fund Advisors LP lifted its position in American International Group by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock valued at $462,147,000 after acquiring an additional 303,201 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AIG shares. Wells Fargo & Company decreased their price objective on shares of American International Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Barclays lifted their target price on American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Argus reissued a “buy” rating and issued a $90.00 target price on shares of American International Group in a report on Wednesday, September 2nd. UBS Group boosted their target price on American International Group from $98.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. upped their target price on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.68.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the sale, the insider owned 556,004 shares in the company, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Key American International Group News

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: AIG earned adjusted EPS of $2.06, above analyst estimates of $1.88, while revenue of $7.44 billion also narrowly topped expectations. Broad-based premium growth and higher investment income supported results. AIG Q3 Earnings Beat Estimates on Strong Premium Growth
• Positive Sentiment: Management highlighted continued premium growth, profitability and progress toward its financial objectives on the earnings call, reinforcing the view that underwriting and business momentum remain constructive. AIG Earnings Call Highlights Growth and Underwriting Strength
• Positive Sentiment: AIG declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annualized, supporting shareholder returns. AIG dividend announcement
• Negative Sentiment: Elevated catastrophe losses weighed on results, and General Insurance underwriting income fell 29% year over year, tempering the strong headline earnings beat. AIG’s General Insurance Q3 Underwriting Income Down 29%

American International Group Stock Performance

Shares of American International Group stock opened at $81.60 on Thursday. The firm’s fifty day simple moving average is $77.36 and its 200-day simple moving average is $76.87. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The stock has a market capitalization of $42.67 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.84 and a beta of 0.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.18. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.42 billion. American International Group had a net margin of 11.86% and a return on equity of 10.73%. During the same quarter in the prior year, the business earned $2.20 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 8.07 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, December 16th. American International Group’s dividend payout ratio is presently 36.56%.

American International Group Company 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.