Wellington Management Group LLP Acquires 1,899,203 Shares of American International Group, Inc. $AIG

Wellington Management Group LLP increased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 7.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,046,055 shares of the insurance provider’s stock after acquiring an additional 1,899,203 shares during the period. Wellington Management Group LLP owned about 4.83% of American International Group worth $2,045,657,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AIG. Capital Research Global Investors increased its stake in American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Norges Bank purchased a new stake in shares of American International Group during the second quarter valued at $787,724,000. Vanguard Group Inc. boosted its stake in shares of American International Group by 11.6% during the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after purchasing an additional 7,117,583 shares during the period. Viking Global Investors LP bought a new position in shares of American International Group in the second quarter worth about $155,413,000. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of American International Group by 2,157.0% in the third quarter. Jupiter Asset Management Ltd. now owns 1,615,618 shares of the insurance provider’s stock worth $126,891,000 after purchasing an additional 1,544,037 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.3%

NYSE:AIG opened at $76.72 on Friday. The firm has a 50-day simple moving average of $76.71 and a 200-day simple moving average of $78.77. American International Group, Inc. has a one year low of $71.25 and a one year high of $88.07. The firm has a market cap of $41.16 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.58 and a beta of 0.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period last year, the company posted $1.30 earnings per share. Equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $0.45 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research analyst reports. Royal Bank Of Canada initiated coverage on shares of American International Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price objective for the company. Barclays reduced their target price on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Mizuho raised their price objective on American International Group from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Evercore decreased their target price on American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. Finally, The Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $88.22.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.