Bessemer Group Inc. Lowers Stake in American International Group, Inc. (NYSE:AIG)

Bessemer Group Inc. lessened its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 61.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,574 shares of the insurance provider's stock after selling 20,429 shares during the period. Bessemer Group Inc.'s holdings in American International Group were worth $1,092,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Duncker Streett & Co. Inc. bought a new stake in American International Group during the 4th quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in shares of American International Group during the fourth quarter worth $29,000. NBC Securities Inc. bought a new stake in shares of American International Group during the first quarter worth $47,000. Colonial Trust Co SC increased its stake 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 buying an additional 443 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in shares of 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 buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Ratings Changes

AIG has been the subject of a number of research reports. Wells Fargo & Company raised their target price on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft raised their target price on American International Group to $91.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Barclays raised their price target on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price target on shares of American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets raised 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. Nine investment 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 data from MarketBeat.com, American International Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.12.

American International Group Price Performance

NYSE:AIG traded up $0.22 during mid-day trading on Friday, hitting $82.58. 2,804,218 shares of the stock traded hands, compared to its average volume of 4,376,481. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. 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 cap of $47.59 billion, a PE ratio of -31.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. The business's 50-day moving average price is $83.74 and its 200 day moving average price is $79.81.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. During the same period in the prior year, the business posted $1.25 EPS. On average, analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

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

Insider Activity

In related news, EVP Christopher Flatt sold 46,182 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president owned 21,400 shares of the company's stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

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.