Parsons Capital Management Inc. RI Cuts Position in American International Group, Inc. (NYSE:AIG)

Parsons Capital Management Inc. RI lessened its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,233 shares of the insurance provider's stock after selling 3,100 shares during the period. Parsons Capital Management Inc. RI's holdings in American International Group were worth $3,237,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AIG. Duncker Streett & Co. Inc. purchased a new stake in shares of American International Group in the 4th quarter valued at about $25,000. Asset Planning Inc bought a new position in shares of American International Group in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new stake in American International Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in American International Group during the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new position in American International Group in the 4th quarter worth approximately $40,000. Institutional investors own 90.60% of the company's stock.

American International Group Trading Up 1.7%

NYSE AIG traded up $1.45 during trading hours on Thursday, reaching $85.85. The company had a trading volume of 3,260,266 shares, compared to its average volume of 4,629,431. 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 stock has a market capitalization of $49.48 billion, a P/E ratio of -41.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. The stock has a 50-day moving average of $82.52 and a 200 day moving average of $78.74. 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 posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 positive return on equity of 8.01% and a negative net margin of 4.25%. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from American International Group's previous quarterly dividend of $0.40. The ex-dividend date is Friday, June 13th. American International Group's dividend payout ratio (DPR) is presently -67.67%.

Insider Transactions at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the business's 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 completion of the sale, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

AIG has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of American International Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Jefferies Financial Group lifted their price objective on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets lifted 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. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.12.

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.