HighTower Advisors LLC Has $13.13 Million Stake in American International Group, Inc. $AIG

HighTower Advisors LLC grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 57.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Westfuller Advisors LLC bought a new stake in shares of American International Group in the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp raised its holdings in American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 355 shares in the last quarter. Eastern Bank lifted its position in shares of American International Group by 2,473.3% during the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 371 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of American International Group during the 2nd quarter worth $32,000. Finally, NewSquare Capital LLC increased its position in shares of American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 154 shares during the period. 90.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America dropped their price target on American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, January 16th. Royal Bank Of Canada began coverage on shares of American International Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 target price for the company. Barclays reduced their price target on shares of 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. Evercore decreased their price objective on shares of American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. Finally, Wall Street Zen cut American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, American International Group has a consensus rating of “Hold” and an average target price of $87.58.

American International Group Price Performance

AIG stock opened at $80.35 on Friday. The company has a market capitalization of $43.11 billion, a P/E ratio of 14.82, a PEG ratio of 0.61 and a beta of 0.61. The company has a fifty day moving average price of $78.80 and a 200-day moving average price of $78.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.30 EPS. As a group, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.45 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.80 annualized dividend and a yield of 2.2%. American International Group’s dividend payout ratio is presently 33.21%.

About American International Group

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.