American International Group, Inc. (NYSE:AIG) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 20.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,212,788 shares of the insurance provider's stock after purchasing an additional 1,901,998 shares during the period. Bank of New York Mellon Corp owned approximately 1.88% of American International Group worth $974,840,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AIG. Ameriflex Group Inc. acquired a new position in American International Group during the fourth quarter worth $29,000. NBC Securities Inc. purchased a new stake in shares of American International Group in the first quarter valued at $47,000. Colonial Trust Co SC lifted its position in shares of American International Group by 150.2% in the fourth quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock valued at $54,000 after acquiring an additional 443 shares in the last quarter. True Wealth Design LLC increased its stake in American International Group by 159.6% in the fourth quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider's stock valued at $76,000 after purchasing an additional 640 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in American International Group by 359.9% in the first quarter. Versant Capital Management Inc now owns 1,113 shares of the insurance provider's stock valued at $97,000 after purchasing an additional 871 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Buying and Selling

In other news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president directly owned 21,400 shares in the company, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on AIG. Wells Fargo & Company upped their price target on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods increased their price target on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft increased their price target on American International Group to $91.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. The Goldman Sachs Group increased their price target on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Finally, Barclays increased their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, American International Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.12.

American International Group Trading Up 0.3%

Shares of NYSE AIG opened at $82.58 on Friday. The company has a market cap of $47.59 billion, a price-to-earnings ratio of -31.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock's 50 day simple moving average is $83.77 and its 200 day simple moving average is $79.89.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.45 dividend. 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 2.18%. The ex-dividend date was Friday, June 13th. American International Group's dividend payout ratio (DPR) is currently -67.67%.

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.

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.