Principal Financial Group Inc. Raises Stake in American International Group, Inc. (NYSE:AIG)

Principal Financial Group Inc. increased its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 734,460 shares of the insurance provider's stock after acquiring an additional 9,118 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of American International Group worth $53,785,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Graypoint LLC grew its position in American International Group by 2.0% in the 3rd quarter. Graypoint LLC now owns 8,672 shares of the insurance provider's stock valued at $635,000 after purchasing an additional 167 shares during the period. M&G PLC grew its holdings in shares of American International Group by 2.9% during the third quarter. M&G PLC now owns 121,697 shares of the insurance provider's stock valued at $8,884,000 after buying an additional 3,480 shares during the last quarter. Consilium Wealth Advisory LLC increased its position in shares of American International Group by 11.6% during the third quarter. Consilium Wealth Advisory LLC now owns 19,315 shares of the insurance provider's stock worth $1,414,000 after acquiring an additional 2,002 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of American International Group in the 3rd quarter worth about $205,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of American International Group in the 3rd quarter worth about $212,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIG. Bank of America boosted their target price on shares of American International Group from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. StockNews.com upgraded American International Group from a "sell" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada reissued an "outperform" rating and issued a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. BMO Capital Markets lowered shares of American International Group from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, Jefferies Financial Group upped their price target on shares of American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.31.

American International Group Stock Performance

American International Group stock traded down $0.20 during trading hours on Monday, reaching $75.38. The company had a trading volume of 4,712,037 shares, compared to its average volume of 3,668,863. American International Group, Inc. has a 12-month low of $63.35 and a 12-month high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50-day moving average price of $75.15 and a 200 day moving average price of $75.67.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analysts' expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. During the same quarter in the prior year, the company posted $1.61 EPS. On average, equities analysts anticipate that American International Group, Inc. will post 5.14 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Monday, December 16th. American International Group's dividend payout ratio (DPR) is currently -47.20%.

American International Group Company 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.