Comerica Bank Has $13.88 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Comerica Bank reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 24.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,634 shares of the insurance provider's stock after selling 62,311 shares during the quarter. Comerica Bank's holdings in American International Group were worth $13,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. Duncker Streett & Co. Inc. acquired a new stake in American International Group in the fourth quarter valued at $25,000. Asset Planning Inc acquired a new position in American International Group during the fourth quarter worth approximately $26,000. BankPlus Trust Department bought a new stake in American International Group in the fourth quarter valued at approximately $36,000. Whipplewood Advisors LLC acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $40,000. Finally, Fortitude Family Office LLC boosted its stake in shares of American International Group by 58.3% during the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider's stock worth $41,000 after acquiring an additional 210 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American International Group

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

American International Group Price Performance

NYSE AIG traded down $0.38 during trading on Tuesday, hitting $82.67. 2,482,239 shares of the company's stock were exchanged, compared to its average volume of 4,443,849. The company has a market cap of $49.23 billion, a PE ratio of -39.74, a P/E/G ratio of 1.01 and a beta of 0.69. 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 stock's 50 day moving average price is $82.23 and its two-hundred day moving average price is $77.38. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. This is an increase from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio is currently -67.67%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AIG shares. HSBC upgraded shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective on the stock in a report on Wednesday, March 5th. BMO Capital Markets increased their price target on shares of American International Group from $75.00 to $83.00 and gave the company a "market perform" rating in a report on Thursday, March 13th. The Goldman Sachs Group boosted their price objective on American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft lifted their price target on American International Group to $91.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Finally, UBS Group decreased their price objective on American International Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $87.71.

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.