Traders Buy American International Group (AIG) on Weakness

Investors purchased shares of American International Group Inc (NYSE:AIG) on weakness during trading on Thursday. $80.99 million flowed into the stock on the tick-up and $45.29 million flowed out of the stock on the tick-down, for a money net flow of $35.70 million into the stock. Of all equities tracked, American International Group had the 24th highest net in-flow for the day. American International Group traded down ($0.86) for the day and closed at $58.11

AIG has been the topic of several analyst reports. Buckingham Research initiated coverage on shares of American International Group in a research report on Monday, September 11th. They issued an “underperform” rating and a $52.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $73.00 price objective on shares of American International Group in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $74.00 price objective on shares of American International Group in a research report on Wednesday, December 6th. Wells Fargo & Company set a $75.00 price objective on shares of American International Group and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Barclays lowered their price objective on shares of American International Group from $74.00 to $71.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $67.70.

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $52,238.53, a PE ratio of 23.15, a P/E/G ratio of 1.92 and a beta of 1.17.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($2.45). The business had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.05 billion. American International Group had a positive return on equity of 3.43% and a negative net margin of 5.07%. During the same period in the prior year, the firm earned $1.23 earnings per share. equities analysts predict that American International Group Inc will post 2.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, December 7th. American International Group’s dividend payout ratio is -51.00%.

A number of hedge funds have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC grew its position in American International Group by 121.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,631,331 shares of the insurance provider’s stock worth $959,607,000 after acquiring an additional 8,586,682 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of American International Group by 27.1% in the second quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock worth $616,283,000 after buying an additional 2,103,522 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of American International Group by 1.7% in the second quarter. Alliancebernstein L.P. now owns 9,432,868 shares of the insurance provider’s stock worth $589,743,000 after buying an additional 159,529 shares during the last quarter. Boston Partners lifted its stake in shares of American International Group by 14.2% in the third quarter. Boston Partners now owns 7,835,692 shares of the insurance provider’s stock worth $481,034,000 after buying an additional 973,835 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of American International Group by 0.7% in the third quarter. Pzena Investment Management LLC now owns 6,507,357 shares of the insurance provider’s stock worth $399,487,000 after buying an additional 46,738 shares during the last quarter. 86.10% of the stock is owned by institutional investors.

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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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