Chevy Chase Trust Holdings LLC Decreases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,301 shares of the insurance provider's stock after selling 16,024 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of American International Group worth $27,065,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AIG. Duncker Streett & Co. Inc. purchased a new stake in American International Group during the 4th quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department purchased a new stake in shares of 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, NBC Securities Inc. purchased a new position in American International Group during the first quarter worth approximately $47,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Trading Up 1.4%

American International Group stock traded up $1.20 during midday trading on Thursday, reaching $85.10. 5,110,677 shares of the stock traded hands, compared to its average volume of 4,386,698. The firm has a market cap of $49.05 billion, a PE ratio of -31.99, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. 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 company has a 50-day simple moving average of $83.37 and a two-hundred day simple moving average of $79.34. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same quarter last year, the firm posted $1.25 earnings per share. Research 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio is currently -67.67%.

Insider Activity

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $91.00 price objective (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. HSBC raised shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price target for the company in a research note on Wednesday, March 5th. Finally, Evercore ISI raised their price target on shares of American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Nine 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. Based on data from MarketBeat, American International Group presently has an average rating of "Moderate Buy" and an average price target of $88.12.

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.