HighTower Advisors LLC Buys 61,266 Shares of American International Group, Inc. $AIG

HighTower Advisors LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 57.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 167,157 shares of the insurance provider’s stock after purchasing an additional 61,266 shares during the period. HighTower Advisors LLC’s holdings in American International Group were worth $13,129,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Westfuller Advisors LLC acquired a new stake in shares of American International Group in the 3rd quarter valued at approximately $26,000. Atlantic Union Bankshares Corp increased its holdings in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares during the last quarter. Eastern Bank raised its position in American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in American International Group in the second quarter valued at $32,000. Finally, Motco lifted its stake in American International Group by 950.0% in the third quarter. Motco now owns 420 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 380 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 1.0%

Shares of AIG stock opened at $80.35 on Friday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $88.07. The company has a market capitalization of $43.11 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.61 and a beta of 0.61. The firm has a 50 day moving average price of $78.80 and a two-hundred day moving average price of $78.89. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter last year, the company earned $1.30 earnings per share. As a group, analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AIG. Mizuho boosted their price objective on shares of American International Group from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a report on Monday, December 29th. Barclays lowered their price target on American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. UBS Group cut their price objective on American International Group from $94.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $87.58.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.