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

Connecticut Wealth Management LLC cut its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,576 shares of the insurance provider's stock after selling 54,518 shares during the period. American International Group makes up 0.4% of Connecticut Wealth Management LLC's holdings, making the stock its 29th biggest holding. Connecticut Wealth Management LLC's holdings in American International Group were worth $9,360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Research Global Investors increased its position in shares of American International Group by 1.4% during 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 acquiring an additional 482,724 shares in the last quarter. Wellington Management Group LLP increased its position in shares of American International Group by 7.2% during the fourth 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 position in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock worth $1,029,905,000 after acquiring an additional 461,912 shares in the last quarter. Franklin Resources Inc. grew its position in American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock worth $760,528,000 after purchasing an additional 1,284,354 shares in the last quarter. Finally, Norges Bank bought a new stake in American International Group in the 4th quarter worth about $718,013,000. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

Shares of AIG stock traded down $0.40 during trading on Friday, reaching $81.62. 3,313,907 shares of the company's stock traded hands, compared to its average volume of 4,428,725. The company has a market capitalization of $47.04 billion, a P/E ratio of -39.24, a PEG ratio of 1.01 and a beta of 0.69. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average is $82.50 and its 200 day moving average is $77.97. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last announced 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. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same period in the prior year, the company 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 declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.45 per share. This is a boost from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, June 13th. American International Group's dividend payout ratio is presently -67.67%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore ISI upped 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 report on Tuesday, April 1st. Morgan Stanley upped their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American International Group to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Hsbc Global Res raised shares of American International Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, HSBC raised shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, American International Group currently has an average rating of "Moderate Buy" and a consensus price target of $88.12.

Insider Activity at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company'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 transaction of $3,845,113.32. Following the sale, the executive vice president now owns 21,400 shares of the company's stock, valued at approximately $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate 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.