Massachusetts Financial Services Co. MA Has $238.28 Million Stake in American International Group, Inc. (NYSE:AIG)

Massachusetts Financial Services Co. MA cut its position in American International Group, Inc. (NYSE:AIG - Free Report) by 10.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,740,719 shares of the insurance provider's stock after selling 319,284 shares during the period. Massachusetts Financial Services Co. MA owned 0.46% of American International Group worth $238,278,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Miracle Mile Advisors LLC lifted its holdings in American International Group by 1.6% in the first quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock valued at $704,000 after buying an additional 124 shares during the period. Western Pacific Wealth Management LP boosted its holdings in American International Group by 2.3% during the first quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after purchasing an additional 125 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in American International Group by 2.4% during the first quarter. Checchi Capital Advisers LLC now owns 5,610 shares of the insurance provider's stock worth $488,000 after purchasing an additional 132 shares during the last quarter. Snowden Capital Advisors LLC lifted its stake in American International Group by 1.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider's stock valued at $769,000 after acquiring an additional 146 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its stake in American International Group by 1.8% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider's stock valued at $641,000 after acquiring an additional 152 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. The Goldman Sachs Group raised their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. restated a "neutral" rating and set a $91.00 target price (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Wells Fargo & Company raised their target price on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Jefferies Financial Group raised their target price on shares of American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Evercore ISI raised their target price 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. Nine 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.12.

Insider Buying and Selling

In related news, EVP Christopher Flatt sold 46,182 shares of American International Group 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 directly owned 21,400 shares in the company, valued at $1,781,764. This trade represents a 68.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

American International Group Price Performance

Shares of AIG traded up $0.07 during mid-day trading on Thursday, reaching $81.06. The company had a trading volume of 2,052,713 shares, compared to its average volume of 4,374,214. The company's 50 day simple moving average is $83.77 and its 200 day simple moving average is $80.43. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $46.71 billion, a price-to-earnings ratio of -30.44, a P/E/G ratio of 0.89 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same period last year, the company posted $1.25 EPS. 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 announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.45 per share. The ex-dividend date was Friday, June 13th. This is an increase from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.22%. American International Group's dividend payout ratio (DPR) is currently -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.