Beacon Pointe Advisors LLC Lowers Position in American International Group, Inc. (NYSE:AIG)

Beacon Pointe Advisors LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 63.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,342 shares of the insurance provider's stock after selling 12,864 shares during the period. Beacon Pointe Advisors LLC's holdings in American International Group were worth $534,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in AIG. Capital Research Global Investors boosted its position in American International Group by 1.4% during the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock worth $2,540,050,000 after acquiring an additional 482,724 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock valued at $1,029,905,000 after acquiring an additional 461,912 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock valued at $760,528,000 after purchasing an additional 1,284,354 shares during the last quarter. Finally, Norges Bank bought a new stake in American International Group in the fourth quarter worth about $718,013,000. 90.60% of the stock is owned by institutional investors.

American International Group Stock Down 0.5 %

Shares of NYSE:AIG traded down $0.38 on Tuesday, reaching $82.67. The company had a trading volume of 2,482,239 shares, compared to its average volume of 4,442,948. The firm has a market capitalization of $49.23 billion, a PE ratio of -39.74, a PEG ratio of 1.01 and a beta of 0.69. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm's 50 day simple moving average is $82.23 and its 200-day simple moving average is $77.38.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.13. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. During the same quarter in the prior year, the company posted $1.25 EPS. As a group, analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.18%. This is a positive change from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, June 13th. American International Group's dividend payout ratio (DPR) is presently -67.67%.

Analyst Ratings Changes

AIG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of American International Group to $91.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $91.00 price objective (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Barclays boosted their price objective on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday. UBS Group dropped their target price on shares of American International Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods reduced their price objective on American International Group from $98.00 to $94.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $87.71.

Insider Activity

In related news, Director John G. Rice acquired 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president now owns 21,400 shares of the company's stock, valued at approximately $1,781,764. The trade was a 68.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

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.