Easterly Investment Partners LLC Increases Stock Position in American International Group, Inc. (NYSE:AIG)

Easterly Investment Partners LLC lifted its holdings in American International Group, Inc. (NYSE:AIG) by 20.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 96,577 shares of the insurance provider’s stock after acquiring an additional 16,717 shares during the quarter. Easterly Investment Partners LLC’s holdings in American International Group were worth $7,072,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AIG. Dimensional Fund Advisors LP lifted its position in American International Group by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after acquiring an additional 269,188 shares during the last quarter. Clearbridge Investments LLC increased its stake in American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after purchasing an additional 31,340 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in American International Group by 6.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock valued at $233,743,000 after purchasing an additional 198,889 shares in the last quarter. APG Asset Management N.V. increased its stake in American International Group by 13.3% during the 2nd quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after purchasing an additional 258,700 shares in the last quarter. Finally, National Pension Service increased its stake in American International Group by 5.1% during the 3rd quarter. National Pension Service now owns 2,186,421 shares of the insurance provider’s stock valued at $160,112,000 after purchasing an additional 105,213 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, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AIG. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Evercore ISI dropped their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Wednesday. Finally, UBS Group increased their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus target price of $84.31.

American International Group Price Performance

Shares of NYSE:AIG traded down $0.53 during midday trading on Friday, hitting $76.06. The company’s stock had a trading volume of 1,486,766 shares, compared to its average volume of 4,096,892. The business’s 50 day simple moving average is $75.17 and its 200 day simple moving average is $75.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $48.98 billion, a P/E ratio of -22.59, a price-to-earnings-growth ratio of 5.26 and a beta of 1.05. American International Group, Inc. has a 12-month low of $62.75 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. On average, analysts forecast that American International Group, Inc. will post 4.99 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

About American International Group

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.