MML Investors Services LLC Purchases 902 Shares of American International Group, Inc. (NYSE:AIG)

MML Investors Services LLC raised its position in shares of American International Group, Inc. (NYSE:AIG) by 1.5% during the 3rd quarter, Holdings Channel reports. The fund owned 62,083 shares of the insurance provider’s stock after purchasing an additional 902 shares during the period. MML Investors Services LLC’s holdings in American International Group were worth $4,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after purchasing an additional 6,119,996 shares in the last quarter. Prana Capital Management LP increased its holdings in shares of American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after buying an additional 1,391,859 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after acquiring an additional 722,237 shares during the last quarter. Bank of Montreal Can grew its position in American International Group by 83.6% in 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 in the last quarter. Finally, Holocene Advisors LP increased its stake in American International Group by 23.5% during the third quarter. Holocene Advisors LP now owns 2,554,519 shares of the insurance provider’s stock worth $187,067,000 after acquiring an additional 486,736 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AIG. Bank of America raised their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price objective on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. UBS Group boosted their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Evercore ISI lowered their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and an average target price of $84.80.

American International Group Stock Up 0.6 %

Shares of NYSE AIG opened at $72.86 on Friday. The stock has a 50 day moving average price of $76.03 and a 200 day moving average price of $75.21. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of -21.49, a PEG ratio of 7.30 and a beta of 1.05. American International Group, Inc. has a 52-week low of $65.69 and a 52-week 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.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping 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 business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the business earned $1.61 EPS. Sell-side analysts expect that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a dividend of $0.40 per share. 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 payout ratio is -47.20%.

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.