Pinnacle Associates Ltd. Has $625,000 Stake in American International Group, Inc. (AIG)

Pinnacle Associates Ltd. trimmed its position in American International Group, Inc. (NYSE:AIG) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,175 shares of the insurance provider’s stock after selling 1,275 shares during the quarter. Pinnacle Associates Ltd.’s holdings in American International Group were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of AIG. Northern Capital Management LLC increased its position in American International Group by 4.0% during the second quarter. Northern Capital Management LLC now owns 46,115 shares of the insurance provider’s stock worth $2,883,000 after acquiring an additional 1,760 shares during the period. Girard Partners LTD. bought a new position in American International Group during the second quarter worth $215,000. Oppenheimer & Co. Inc. increased its position in American International Group by 9.8% during the second quarter. Oppenheimer & Co. Inc. now owns 88,877 shares of the insurance provider’s stock worth $5,557,000 after acquiring an additional 7,963 shares during the period. AXA increased its position in American International Group by 113.5% during the second quarter. AXA now owns 411,178 shares of the insurance provider’s stock worth $25,707,000 after acquiring an additional 218,583 shares during the period. Finally, Connable Office Inc. bought a new position in American International Group during the third quarter worth $1,563,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Shares of American International Group, Inc. (NYSE:AIG) opened at $59.26 on Tuesday. American International Group, Inc. has a 52 week low of $57.90 and a 52 week high of $67.47. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.43. The company has a market cap of $53,829.69, a price-to-earnings ratio of 23.86, a PEG ratio of 1.97 and a beta of 1.17.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($2.45). American International Group had a negative net margin of 5.07% and a positive return on equity of 3.43%. The firm had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.05 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. sell-side analysts expect that American International Group, Inc. will post 2.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be paid a $0.32 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.28 annualized dividend and a dividend yield of 2.16%. American International Group’s dividend payout ratio is presently -51.00%.

A number of equities analysts recently issued reports on AIG shares. Bank of America dropped their target price on shares of American International Group from $71.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday, October 10th. Morgan Stanley reaffirmed a “buy” rating on shares of American International Group in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. B. Riley reaffirmed a “neutral” rating on shares of American International Group in a research report on Monday, November 6th. Finally, BidaskClub raised shares of American International Group from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.81.

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About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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