Kovitz Investment Group Partners LLC Grows Holdings in American International Group, Inc. (NYSE:AIG)

Kovitz Investment Group Partners LLC increased its position in shares of American International Group, Inc. (NYSE:AIG) by 15.9% during the 3rd quarter, Holdings Channel reports. The firm owned 177,727 shares of the insurance provider’s stock after purchasing an additional 24,433 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in American International Group were worth $12,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in American International Group during the third quarter worth about $26,000. Y.D. More Investments Ltd purchased a new position in American International Group in the second quarter valued at about $27,000. True Wealth Design LLC purchased a new position in American International Group in the third quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in American International Group in the third quarter valued at about $46,000. Finally, NBC Securities Inc. boosted its stake in American International Group by 241.6% in the third quarter. NBC Securities Inc. now owns 673 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 476 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AIG. UBS Group boosted their target price on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. TD Cowen dropped their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Bank of America upped their price target on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and an average target price of $84.80.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on 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 transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.

American International Group Stock Performance

American International Group stock opened at $75.54 on Friday. The firm’s 50 day simple moving average is $76.00 and its 200 day simple moving average is $75.41. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $47.12 billion, a PE ratio of -22.28, a price-to-earnings-growth ratio of 7.45 and a beta of 1.05. American International Group, Inc. has a 1-year low of $64.81 and a 1-year high of $80.83.

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

American International Group Dividend Announcement

The business 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 2.12%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is -47.20%.

American International Group 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.