Connecticut Wealth Management LLC Sells 54,518 Shares of American International Group, Inc. (NYSE:AIG)

Connecticut Wealth Management LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,576 shares of the insurance provider's stock after selling 54,518 shares during the quarter. American International Group makes up about 0.4% of Connecticut Wealth Management LLC's investment portfolio, making the stock its 29th largest holding. Connecticut Wealth Management LLC's holdings in American International Group were worth $9,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors grew its stake in American International Group by 1.4% in the fourth 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 in the last quarter. Wellington Management Group LLP grew its position in shares of American International Group by 7.2% in 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 acquiring an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of American International Group by 3.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock valued at $1,029,905,000 after acquiring an additional 461,912 shares during the last quarter. 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 valued at $760,528,000 after acquiring an additional 1,284,354 shares in the last quarter. Finally, Norges Bank bought a new position in American International Group during the fourth quarter worth $718,013,000. Institutional investors own 90.60% of the company's stock.

American International Group Stock Down 0.5%

NYSE:AIG traded down $0.40 on Monday, hitting $81.62. 3,313,907 shares of the company's stock traded hands, compared to its average volume of 4,428,725. The firm has a 50-day moving average price of $82.50 and a 200-day moving average price of $77.98. The company has a market cap of $47.04 billion, a PE ratio of -39.24, a price-to-earnings-growth ratio of 1.01 and a beta of 0.69. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last issued its 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 positive return on equity of 8.01% and a negative net margin of 4.25%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. Equities analysts anticipate that American International Group, Inc. will post 6.24 EPS 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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.21%. This is an increase 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 currently -67.67%.

Insider Activity

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction that occurred 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 now owns 21,400 shares in the company, valued at $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a "market perform" rating in a report on Thursday, March 13th. HSBC raised shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 target price on the stock in a report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their target price on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $91.00 price target (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Finally, Morgan Stanley upped their price objective on American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, American International Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.12.

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.