American International Group, Inc. (NYSE:AIG) Stake Increased by Prana Capital Management LP

Prana Capital Management LP increased its position in American International Group, Inc. (NYSE:AIG) by 280.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,888,072 shares of the insurance provider’s stock after acquiring an additional 1,391,859 shares during the quarter. American International Group makes up about 6.3% of Prana Capital Management LP’s holdings, making the stock its biggest holding. Prana Capital Management LP’s holdings in American International Group were worth $138,264,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AIG. Cetera Investment Advisers increased its stake in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after acquiring an additional 44,797 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of American International Group by 80.9% in the 1st quarter. Cetera Advisors LLC now owns 9,224 shares of the insurance provider’s stock valued at $721,000 after purchasing an additional 4,124 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of American International Group by 6.7% during the 2nd quarter. Park Avenue Securities LLC now owns 24,513 shares of the insurance provider’s stock valued at $1,820,000 after purchasing an additional 1,534 shares during the last quarter. CWM LLC raised its position in American International Group by 7.2% in the 2nd quarter. CWM LLC now owns 12,989 shares of the insurance provider’s stock worth $964,000 after purchasing an additional 874 shares during the period. Finally, Valeo Financial Advisors LLC lifted its stake in American International Group by 16.7% in the second quarter. Valeo Financial Advisors LLC now owns 17,680 shares of the insurance provider’s stock worth $1,313,000 after purchasing an additional 2,534 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AIG shares. Bank of America lifted their price objective on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Barclays initiated coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price on the stock. 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. Keefe, Bruyette & Woods lowered 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, November 12th. Finally, Jefferies Financial Group raised their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus target price of $84.80.

American International Group Price Performance

Shares of NYSE AIG opened at $75.11 on Wednesday. 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 company has a 50 day simple moving average of $75.88 and a two-hundred day simple moving average of $75.40. American International Group, Inc. has a fifty-two week low of $64.81 and a fifty-two week high of $80.83. The company has a market capitalization of $46.85 billion, a price-to-earnings ratio of -22.16, a P/E/G ratio of 7.54 and a beta of 1.05.

American International Group (NYSE:AIG) last released 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. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the prior year, the firm posted $1.61 earnings per share. Analysts expect that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.13%. 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.