Hotchkis & Wiley Capital Management LLC Increases Stock Position in American International Group, Inc. (NYSE:AIG)

Hotchkis & Wiley Capital Management LLC increased its position in shares of American International Group, Inc. (NYSE:AIG) by 0.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,416,240 shares of the insurance provider’s stock after buying an additional 59,180 shares during the quarter. American International Group comprises 1.8% of Hotchkis & Wiley Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Hotchkis & Wiley Capital Management LLC’s holdings in American International Group were worth $543,091,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AIG. Cetera Investment Advisers raised its position in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of American International Group by 80.9% in the 1st quarter. Cetera Advisors LLC now owns 9,224 shares of the insurance provider’s stock worth $721,000 after buying an additional 4,124 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of American International Group by 10.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,720 shares of the insurance provider’s stock valued at $202,000 after purchasing an additional 252 shares during the last quarter. Versant Capital Management Inc increased its position in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in American International Group by 6.7% during the 2nd quarter. Park Avenue Securities LLC now owns 24,513 shares of the insurance provider’s stock worth $1,820,000 after purchasing an additional 1,534 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AIG has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $93.00 to $89.00 in a report on Thursday, October 10th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Barclays initiated coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target for the company. Finally, Jefferies Financial Group lifted their price target on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, American International Group has an average rating of “Moderate Buy” and an average target price of $84.80.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the company’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 of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of AIG opened at $75.99 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average is $75.82 and its 200 day moving average is $75.46. American International Group, Inc. has a 12-month low of $64.81 and a 12-month high of $80.83. The stock has a market cap of $47.40 billion, a P/E ratio of -22.41, a P/E/G ratio of 7.62 and a beta of 1.05.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the firm earned $1.61 earnings per share. Sell-side analysts anticipate that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date 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.