Elm Ridge Management LLC lowered its position in American International Group Inc (NYSE:AIG) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,869 shares of the insurance provider’s stock after selling 34,618 shares during the quarter. American International Group makes up about 4.4% of Elm Ridge Management LLC’s portfolio, making the stock its 7th biggest position. Elm Ridge Management LLC’s holdings in American International Group were worth $10,551,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AIG. Bank of Nova Scotia Trust Co. purchased a new stake in American International Group during the third quarter worth $109,000. Peddock Capital Advisors LLC lifted its holdings in American International Group by 100.0% during the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock worth $159,000 after buying an additional 1,271 shares during the period. Rational Advisors LLC lifted its holdings in American International Group by 100.0% during the third quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock worth $184,000 after buying an additional 1,500 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in American International Group by 30.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock worth $192,000 after buying an additional 716 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new stake in American International Group during the third quarter worth $200,000. 86.10% of the stock is currently owned by institutional investors.

Shares of American International Group Inc (NYSE:AIG) opened at $58.97 on Thursday. American International Group Inc has a twelve month low of $57.90 and a twelve month high of $67.47. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $53,874.64, a price-to-earnings ratio of 23.88, a PEG ratio of 1.98 and a beta of 1.17.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.22) EPS for the quarter, missing the consensus estimate of $1.23 by ($2.45). American International Group had a negative net margin of 5.07% and a positive return on equity of 3.43%. The business had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.05 billion. During the same quarter in the prior year, the company posted $1.23 EPS. sell-side analysts expect that American International Group Inc will post 2.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.28 annualized dividend and a dividend yield of 2.17%. American International Group’s dividend payout ratio is presently -51.00%.

A number of analysts have weighed in on AIG shares. BidaskClub lowered American International Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Royal Bank of Canada restated a “buy” rating and set a $73.00 target price on shares of American International Group in a report on Wednesday, September 6th. Buckingham Research started coverage on American International Group in a report on Monday, September 11th. They set an “underperform” rating and a $52.00 target price for the company. UBS lowered their target price on American International Group from $65.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, September 19th. Finally, Wells Fargo & Company restated a “buy” rating and set a $75.00 target price on shares of American International Group in a report on Sunday, October 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $67.70.

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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.

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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