Lummis Asset Management LP Buys 1,507 Shares of American International Group, Inc. (NYSE:AIG)

Lummis Asset Management LP grew its position in shares of American International Group, Inc. (NYSE:AIG) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,319 shares of the insurance provider’s stock after purchasing an additional 1,507 shares during the period. American International Group makes up approximately 2.7% of Lummis Asset Management LP’s investment portfolio, making the stock its 11th biggest position. Lummis Asset Management LP’s holdings in American International Group were worth $2,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AIG. Swedbank AB bought a new position in shares of American International Group during the 1st quarter valued at approximately $99,951,000. Canada Pension Plan Investment Board lifted its holdings in shares of American International Group by 98.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after acquiring an additional 941,607 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after acquiring an additional 722,237 shares in the last quarter. Bank of Montreal Can increased its stake in American International Group by 83.6% during the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after acquiring an additional 597,765 shares during the last quarter. Finally, Senator Investment Group LP raised its position in American International Group by 41.0% during the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock valued at $118,620,000 after purchasing an additional 441,048 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIG. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Evercore ISI cut their price objective 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. UBS Group raised their target price on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company cut their price target on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and a consensus target price of $84.13.

American International Group Stock Down 0.1 %

American International Group stock traded down $0.09 during mid-day trading on Thursday, reaching $76.00. 145,449 shares of the company were exchanged, compared to its average volume of 4,107,458. The firm has a market cap of $47.41 billion, a P/E ratio of -22.45, a PEG ratio of 7.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 12-month low of $63.39 and a 12-month high of $80.83. The business has a fifty day moving average of $75.09 and a 200 day moving average of $75.68.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Research analysts anticipate that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

American International Group Company 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.