Legal & General Group Plc Sells 1,348,548 Shares of American International Group, Inc. (NYSE:AIG)

Legal & General Group Plc lowered its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 26.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,734,627 shares of the insurance provider's stock after selling 1,348,548 shares during the period. Legal & General Group Plc owned approximately 0.60% of American International Group worth $271,881,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Artemis Investment Management LLP lifted its holdings in shares of American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider's stock worth $19,965,000 after acquiring an additional 147,235 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its position in American International Group by 5.2% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider's stock valued at $5,155,000 after purchasing an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in American International Group by 54.3% during the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider's stock worth $924,000 after purchasing an additional 4,468 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of American International Group in the 4th quarter worth about $1,260,000. Finally, Williams & Novak LLC bought a new position in shares of American International Group during the 4th quarter valued at about $279,000. Institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American International Group to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Hsbc Global Res upgraded shares of American International Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group boosted their target price on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley increased their target price on American International Group from $76.00 to $82.00 and gave the company an "equal weight" rating in a report on Friday, April 4th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.65.

Insider Activity

In related news, Director John G. Rice acquired 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company's stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

American International Group Trading Up 2.0 %

Shares of AIG traded up $1.60 during trading hours on Monday, reaching $83.57. 441,944 shares of the company traded hands, compared to its average volume of 4,445,246. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a market capitalization of $49.77 billion, a price-to-earnings ratio of -40.18, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The company's fifty day moving average price is $80.41 and its two-hundred day moving average price is $76.69. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, March 17th. American International Group's dividend payout ratio is currently -76.92%.

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.