HighTower Advisors LLC Purchases 19,074 Shares of American International Group, Inc. (NYSE:AIG)

HighTower Advisors LLC increased its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 25.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,879 shares of the insurance provider's stock after purchasing an additional 19,074 shares during the quarter. HighTower Advisors LLC's holdings in American International Group were worth $6,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AIG. Dynamic Advisor Solutions LLC increased its stake in shares of American International Group by 2.6% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,356 shares of the insurance provider's stock valued at $620,000 after buying an additional 208 shares during the period. Sequoia Financial Advisors LLC raised its holdings in American International Group by 4.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,940 shares of the insurance provider's stock worth $1,480,000 after purchasing an additional 939 shares during the last quarter. M&G Plc acquired a new position in shares of American International Group in the 2nd quarter worth approximately $8,748,000. Diversified Trust Co bought a new stake in shares of American International Group in the 2nd quarter valued at $248,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of American International Group by 11.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,471 shares of the insurance provider's stock worth $2,336,000 after buying an additional 3,162 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets cut shares of American International Group from an "outperform" rating to a "market perform" rating and cut their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lowered their target price on American International Group from $88.00 to $87.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. Bank of America raised their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised shares of American International Group from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price objective on shares of American International Group from $77.00 to $76.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $84.80.

American International Group Stock Down 1.5 %

AIG traded down $1.08 during mid-day trading on Tuesday, reaching $73.00. 4,323,420 shares of the stock were exchanged, compared to its average volume of 4,103,125. American International Group, Inc. has a 1 year low of $65.44 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $45.53 billion, a PE ratio of -21.53, a price-to-earnings-growth ratio of 7.49 and a beta of 1.05. The company has a 50 day moving average price of $76.06 and a two-hundred day moving average price of $75.32.

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

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 16th. American International Group's payout ratio is -47.20%.

American International Group Profile

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.