Glenmede Trust Co. NA Boosts Stock Position in American International Group, Inc. (NYSE:AIG)

Glenmede Trust Co. NA increased its stake in American International Group, Inc. (NYSE:AIGGet Rating) by 319.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 307,351 shares of the insurance provider’s stock after buying an additional 234,161 shares during the period. Glenmede Trust Co. NA’s holdings in American International Group were worth $14,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its stake in shares of American International Group by 2.4% in the 2nd quarter. FMR LLC now owns 20,562,817 shares of the insurance provider’s stock worth $1,051,376,000 after buying an additional 473,756 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in American International Group by 1.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 16,627,116 shares of the insurance provider’s stock valued at $789,455,000 after purchasing an additional 173,366 shares during the last quarter. Pzena Investment Management LLC boosted its stake in American International Group by 0.8% during the 3rd quarter. Pzena Investment Management LLC now owns 10,801,992 shares of the insurance provider’s stock valued at $512,879,000 after purchasing an additional 89,254 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in American International Group by 7.1% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,542,900 shares of the insurance provider’s stock valued at $500,577,000 after purchasing an additional 694,978 shares during the last quarter. Finally, GQG Partners LLC boosted its stake in American International Group by 14.4% during the 2nd quarter. GQG Partners LLC now owns 9,109,926 shares of the insurance provider’s stock valued at $466,068,000 after purchasing an additional 1,146,973 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

American International Group Stock Performance

American International Group stock traded down $0.22 during trading on Wednesday, reaching $62.94. The company had a trading volume of 1,081,822 shares, compared to its average volume of 3,700,208. American International Group, Inc. has a 52 week low of $47.05 and a 52 week high of $65.73. The firm’s 50-day simple moving average is $62.52 and its 200 day simple moving average is $56.51. The firm has a market capitalization of $46.76 billion, a price-to-earnings ratio of 3.76, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.75.

American International Group (NYSE:AIGGet Rating) last announced its earnings results on Tuesday, November 1st. The insurance provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. American International Group had a return on equity of 7.33% and a net margin of 23.33%. The company had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Sell-side analysts forecast that American International Group, Inc. will post 4.41 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. American International Group’s dividend payout ratio is presently 7.61%.

Analyst Ratings Changes

Several brokerages have commented on AIG. JPMorgan Chase & Co. began coverage on American International Group in a research note on Wednesday, November 30th. They set a “neutral” rating on the stock. TheStreet upgraded American International Group from a “c+” rating to a “b” rating in a research note on Thursday, October 27th. Citigroup assumed coverage on American International Group in a research note on Wednesday, December 14th. They set a “buy” rating and a $72.00 target price on the stock. Evercore ISI dropped their price target on American International Group to $56.00 in a research note on Thursday, October 13th. Finally, Wells Fargo & Company raised their price target on American International Group from $61.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $65.08.

American International Group Company Profile

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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

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

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