QRG Capital Management Inc. Sells 51,305 Shares of American International Group, Inc. (NYSE:AIG)

QRG Capital Management Inc. lowered its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 27.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,732 shares of the insurance provider's stock after selling 51,305 shares during the period. QRG Capital Management Inc.'s holdings in American International Group were worth $11,801,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of American International Group in the fourth quarter worth about $1,091,000. Empowered Funds LLC increased its holdings in shares of American International Group by 13.3% in the fourth quarter. Empowered Funds LLC now owns 13,513 shares of the insurance provider's stock worth $984,000 after buying an additional 1,585 shares during the period. Valeo Financial Advisors LLC increased its holdings in American International Group by 3.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 15,026 shares of the insurance provider's stock valued at $1,094,000 after purchasing an additional 441 shares during the period. Principal Securities Inc. increased its holdings in American International Group by 94.4% during the 4th quarter. Principal Securities Inc. now owns 11,374 shares of the insurance provider's stock valued at $828,000 after purchasing an additional 5,522 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in American International Group during the 4th quarter valued at about $4,310,000. Institutional investors own 90.60% of the company's stock.

American International Group Stock Up 0.1%

AIG stock traded up $0.08 during trading on Wednesday, reaching $84.30. The stock had a trading volume of 4,097,233 shares, compared to its average volume of 4,411,613. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $48.59 billion, a P/E ratio of -31.69, a PEG ratio of 0.91 and a beta of 0.64. The firm has a fifty day moving average price of $83.01 and a 200 day moving average price of $78.99.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $6.89 billion. During the same period in the prior year, the business posted $1.25 EPS. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. American International Group's dividend payout ratio is -67.67%.

Insider Buying and Selling at American International Group

In other 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of research analyst reports. UBS Group reduced their price target on American International Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. HSBC upgraded American International Group from a "hold" rating to a "buy" rating and set a $93.00 price target on the stock in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on American International Group to $91.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Morgan Stanley lifted their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Hsbc Global Res raised American International Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, American International Group has an average rating of "Moderate Buy" and a consensus 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.