Crossmark Global Holdings Inc. Sells 13,125 Shares of American International Group, Inc. $AIG

Key Points

• Crossmark Global Holdings reduced its stake in American International Group by 24% in the fourth quarter, selling 13,125 shares and leaving it with 41,548 shares worth about $3.55 million.
• AIG reported better-than-expected quarterly earnings of $2.11 per share, topping estimates, while revenue came in essentially in line at $7.02 billion. Analysts now expect the company to earn 7.95 EPS for the full year.
• The company raised its quarterly dividend to $0.50 per share from $0.45, implying an annualized payout of $2.00 and a 2.6% yield.

Crossmark Global Holdings Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,548 shares of the insurance provider's stock after selling 13,125 shares during the period. Crossmark Global Holdings Inc.'s holdings in American International Group were worth $3,554,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Westfuller Advisors LLC bought a new stake in American International Group during the 3rd quarter worth $26,000. Atlantic Union Bankshares Corp raised its position in American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 355 shares during the last quarter. Eastern Bank raised its position in American International Group by 2,473.3% in the third quarter. Eastern Bank now owns 386 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 371 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of American International Group during the fourth quarter valued at about $39,000. Finally, JPL Wealth Management LLC bought a new stake in shares of American International Group during the third quarter worth about $39,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Price Performance

American International Group stock opened at $76.30 on Monday. The stock's 50 day moving average is $76.70 and its 200 day moving average is $77.77. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.46. The firm has a market cap of $40.45 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.73 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.22. The firm had revenue of $7.02 billion during the quarter, compared to analyst estimates of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter last year, the business earned $1.17 EPS. As a group, research analysts expect that American International Group, Inc. will post 7.95 EPS for the current year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $0.50 per share. This is a boost from American International Group's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. American International Group's payout ratio is 31.75%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AIG shares. Barclays upped their price objective on American International Group from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Wells Fargo & Company reduced their target price on shares of American International Group from $86.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 6th. UBS Group upped their price target on shares of American International Group from $92.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Mizuho lifted their price target on shares of American International Group from $84.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, Citigroup boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $88.06.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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