Crestline Management LP bought a new stake in American International Group Inc (NYSE:AIG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 138,142 shares of the insurance provider’s stock, valued at approximately $8,231,000. American International Group comprises about 0.8% of Crestline Management LP’s portfolio, making the stock its 8th biggest holding.
Other institutional investors have also recently modified their holdings of the company. Millennium Management LLC lifted its stake in shares of American International Group by 414.2% during the fourth quarter. Millennium Management LLC now owns 1,263,387 shares of the insurance provider’s stock worth $75,273,000 after purchasing an additional 1,017,669 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of American International Group by 4.3% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 193,105 shares of the insurance provider’s stock worth $11,504,000 after purchasing an additional 8,038 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of American International Group by 5.3% during the fourth quarter. TIAA CREF Investment Management LLC now owns 12,151,681 shares of the insurance provider’s stock worth $723,997,000 after purchasing an additional 611,404 shares in the last quarter. NWQ Investment Management Company LLC acquired a new position in shares of American International Group during the fourth quarter worth about $58,878,000. Finally, Teachers Advisors LLC lifted its stake in shares of American International Group by 2.5% during the fourth quarter. Teachers Advisors LLC now owns 3,801,718 shares of the insurance provider’s stock worth $226,506,000 after purchasing an additional 93,747 shares in the last quarter. Hedge funds and other institutional investors own 87.34% of the company’s stock.
Shares of American International Group Inc (NYSE:AIG) traded down $0.33 during trading on Wednesday, reaching $55.65. The company had a trading volume of 390,373 shares, compared to its average volume of 8,270,000. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market capitalization of $50,220.00, a price-to-earnings ratio of 111.30, a P/E/G ratio of 0.93 and a beta of 1.23. American International Group Inc has a 1 year low of $55.07 and a 1 year high of $67.30.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, March 14th. American International Group’s dividend payout ratio is currently 256.00%.
A number of brokerages have commented on AIG. Goldman Sachs Group assumed coverage on American International Group in a research note on Monday, December 4th. They set a “neutral” rating and a $61.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $76.00 price target on shares of American International Group in a research note on Friday, December 22nd. Credit Suisse Group set a $73.00 price target on American International Group and gave the stock a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Bank of America upgraded American International Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $59.40 to $58.28 in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.71.
In related news, Director W Don Cornwell sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $58.78, for a total value of $146,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Claudine Macartney sold 2,052 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $59.61, for a total value of $122,319.72. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
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About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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