City National Bank of Florida MSD Takes Position in American International Group, Inc. (NYSE:AIG)

City National Bank of Florida MSD acquired a new position in shares of American International Group, Inc. (NYSE:AIG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,092 shares of the insurance provider's stock, valued at approximately $298,000.

Several other institutional investors and hedge funds also recently modified their holdings of AIG. Arkadios Wealth Advisors lifted its holdings in shares of American International Group by 13.8% in the fourth quarter. Arkadios Wealth Advisors now owns 3,373 shares of the insurance provider's stock valued at $246,000 after purchasing an additional 408 shares in the last quarter. UMB Bank n.a. increased its position in shares of American International Group by 21.5% in the fourth quarter. UMB Bank n.a. now owns 1,793 shares of the insurance provider's stock worth $131,000 after acquiring an additional 317 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of American International Group by 3.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 40,481 shares of the insurance provider's stock worth $2,947,000 after acquiring an additional 1,205 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in American International Group by 17.0% during the 4th quarter. Atomi Financial Group Inc. now owns 10,293 shares of the insurance provider's stock valued at $749,000 after purchasing an additional 1,499 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in American International Group by 3.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 240,885 shares of the insurance provider's stock valued at $17,536,000 after purchasing an additional 8,558 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of recent analyst reports. 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. HSBC upgraded shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective on the stock in a research report on Wednesday, March 5th. 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. Evercore ISI lifted their price objective on shares of American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods lifted their price objective 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. 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $88.12.

Insider Transactions at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president now directly owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.

American International Group Stock Down 0.5%

AIG traded down $0.40 on Friday, reaching $81.62. 3,313,907 shares of the company traded hands, compared to its average volume of 4,428,725. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $47.04 billion, a price-to-earnings ratio of -39.24, a PEG ratio of 1.01 and a beta of 0.69. The stock's 50 day moving average price is $82.50 and its 200-day moving average price is $77.97. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. During the same period in the previous year, the company earned $1.25 earnings per share. On average, sell-side 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 will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, June 13th. American International Group's payout ratio is presently -67.67%.

American International Group Company 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.