Norges Bank Invests $718.01 Million in American International Group, Inc. (NYSE:AIG)

Norges Bank acquired a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,862,810 shares of the insurance provider's stock, valued at approximately $718,013,000. Norges Bank owned approximately 1.58% of American International Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AIG. Wellington Management Group LLP grew its position in American International Group by 32.4% in the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider's stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares in the last quarter. Prana Capital Management LP boosted its stake in shares of American International Group by 280.5% in the third quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider's stock valued at $138,264,000 after purchasing an additional 1,391,859 shares during the period. Raymond James Financial Inc. acquired a new position in shares of American International Group in the fourth quarter valued at approximately $95,074,000. Swedbank AB increased its stake in American International Group by 70.6% during the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider's stock worth $154,896,000 after buying an additional 880,625 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in American International Group by 9,790.9% during the 4th quarter. Proficio Capital Partners LLC now owns 690,185 shares of the insurance provider's stock worth $50,245,000 after buying an additional 683,207 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

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American International Group Stock Performance

Shares of AIG stock traded up $0.17 during mid-day trading on Tuesday, hitting $87.11. 1,792,014 shares of the stock were exchanged, compared to its average volume of 4,945,716. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $87.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $51.69 billion, a price-to-earnings ratio of -41.90, a P/E/G ratio of 1.01 and a beta of 0.98. The stock's fifty day simple moving average is $78.77 and its two-hundred day simple moving average is $76.05.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Monday, March 17th. American International Group's dividend payout ratio is currently -76.92%.

Analyst Upgrades and Downgrades

Several research firms have commented on AIG. Hsbc Global Res upgraded shares of American International Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Morgan Stanley boosted their target price on American International Group from $75.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. UBS Group reduced their price target on American International Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their price objective on American International Group from $76.00 to $77.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Finally, Evercore ISI raised their target price on shares of American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice bought 10,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was acquired at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.