NorthCrest Asset Manangement LLC Boosts Holdings in American International Group, Inc. (NYSE:AIG)

NorthCrest Asset Manangement LLC increased its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 48.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,352 shares of the insurance provider's stock after purchasing an additional 9,615 shares during the period. NorthCrest Asset Manangement LLC's holdings in American International Group were worth $2,552,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new stake in American International Group in the 4th quarter valued at about $25,000. Asset Planning Inc purchased a new stake in American International Group in the 4th quarter valued at about $26,000. Ameriflex Group Inc. purchased a new stake in American International Group in the 4th quarter valued at about $29,000. BankPlus Trust Department purchased a new stake in American International Group in the 4th quarter valued at about $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of American International Group in the 4th quarter worth approximately $40,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIG. Evercore ISI upped their price target 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. UBS Group lowered their price target on shares of American International Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of American International Group to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley boosted 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 note on Monday, May 19th. Nine equities 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's stock. According to MarketBeat, American International Group presently has an average rating of "Moderate Buy" and a consensus price target of $88.12.

American International Group Stock Performance

Shares of NYSE:AIG traded down $1.28 during midday trading on Friday, reaching $84.52. The company's stock had a trading volume of 3,429,725 shares, compared to its average volume of 4,414,950. The firm has a market capitalization of $48.71 billion, a PE ratio of -40.63, a P/E/G ratio of 1.01 and a beta of 0.64. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The stock has a fifty day moving average of $82.83 and a 200 day moving average of $78.88. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $1.25 earnings per share. On average, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio is presently -67.67%.

Insider Transactions at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the firm'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 sale, the executive vice president now owns 21,400 shares in the company, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

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.