Principal Financial Group Inc. Raises Stock Position in American International Group, Inc. (NYSE:AIG)

Principal Financial Group Inc. grew its holdings in American International Group, Inc. (NYSE:AIG) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 734,460 shares of the insurance provider’s stock after buying an additional 9,118 shares during the period. Principal Financial Group Inc.’s holdings in American International Group were worth $53,785,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares during the period. Diamond Hill Capital Management Inc. grew 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 worth $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of American International Group by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock valued at $713,272,000 after acquiring an additional 457,821 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in American International Group by 0.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after purchasing an additional 59,180 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of American International Group by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after buying an additional 269,188 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 2.3 %

American International Group stock opened at $72.69 on Monday. The firm has a market cap of $45.34 billion, a PE ratio of -21.44, a P/E/G ratio of 7.30 and a beta of 1.05. American International Group, Inc. has a twelve month low of $65.78 and a twelve month high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $75.62 and its two-hundred day moving average price is $74.97.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the business posted $1.61 earnings per share. On average, research analysts predict that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent research reports. UBS Group lifted their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Wells Fargo & Company lowered 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 research note on Wednesday, November 6th. Keefe, Bruyette & Woods dropped their price objective on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group lifted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.80.

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.