5,502 Shares in American International Group, Inc. (NYSE:AIG) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC bought a new position in American International Group, Inc. (NYSE:AIG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,502 shares of the insurance provider's stock, valued at approximately $401,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors raised its position in shares of 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 purchasing an additional 482,724 shares during the period. Wellington Management Group LLP raised its position in shares of American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock worth $1,951,427,000 after purchasing an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock worth $1,029,905,000 after purchasing an additional 461,912 shares during the period. Franklin Resources Inc. raised its position in shares of American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock worth $760,528,000 after purchasing an additional 1,284,354 shares during the period. Finally, Norges Bank acquired a new stake in shares of American International Group during the 4th quarter worth approximately $718,013,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Performance

American International Group stock traded up $0.31 during midday trading on Tuesday, reaching $83.78. 3,285,802 shares of the company's stock were exchanged, compared to its average volume of 4,453,985. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $48.28 billion, a price-to-earnings ratio of -40.28, a P/E/G ratio of 1.01 and a beta of 0.69. The stock's 50-day simple moving average is $82.34 and its 200 day simple moving average is $77.56.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, June 13th. This is a boost from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.15%. American International Group's dividend payout ratio is presently -67.67%.

Insiders Place Their Bets

In other news, Director John G. Rice purchased 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the transaction, the executive vice president now owns 21,400 shares of the company's stock, valued at $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. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

AIG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on American International Group to $91.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. restated a "neutral" rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods raised their target price on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Barclays raised their target price on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, BMO Capital Markets raised their target price on American International Group from $75.00 to $83.00 and gave the company a "market perform" rating in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.88.

American International Group Profile

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.