Rock Point Advisors LLC Grows Position in American International Group, Inc. (NYSE:AIG)

Rock Point Advisors LLC grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,977 shares of the insurance provider’s stock after buying an additional 250 shares during the period. American International Group accounts for 2.3% of Rock Point Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Rock Point Advisors LLC’s holdings in American International Group were worth $8,493,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AIG. Advisors Asset Management Inc. boosted its holdings in shares of American International Group by 27.8% during the first quarter. Advisors Asset Management Inc. now owns 17,459 shares of the insurance provider’s stock worth $1,365,000 after purchasing an additional 3,793 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of American International Group by 7.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 29,286 shares of the insurance provider’s stock worth $2,289,000 after purchasing an additional 1,982 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of American International Group by 14.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,133 shares of the insurance provider’s stock worth $1,027,000 after purchasing an additional 1,675 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of American International Group by 0.8% during the first quarter. California State Teachers Retirement System now owns 1,213,127 shares of the insurance provider’s stock worth $94,830,000 after purchasing an additional 9,326 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of American International Group by 4.1% during the first quarter. iA Global Asset Management Inc. now owns 11,093 shares of the insurance provider’s stock worth $867,000 after purchasing an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. TD Cowen reduced their target price on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Evercore ISI cut their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Finally, StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

American International Group Stock Performance

Shares of NYSE AIG traded down $0.12 during midday trading on Tuesday, hitting $75.83. 108,018 shares of the company’s stock were exchanged, compared to its average volume of 4,106,197. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50 day moving average price is $75.56 and its 200-day moving average price is $75.53. The firm has a market cap of $47.30 billion, a P/E ratio of -22.41, a PEG ratio of 7.54 and a beta of 1.05. American International Group, Inc. has a twelve month low of $64.54 and a twelve month high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the previous year, the firm posted $1.61 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.