Rhumbline Advisers Sells 164,200 Shares of American International Group, Inc. (NYSE:AIG)

Rhumbline Advisers reduced its position in American International Group, Inc. (NYSE:AIG - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,094,291 shares of the insurance provider's stock after selling 164,200 shares during the period. Rhumbline Advisers owned approximately 0.19% of American International Group worth $95,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AIG. Jones Financial Companies Lllp raised its holdings in American International Group by 54.3% during the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider's stock valued at $924,000 after acquiring an additional 4,468 shares during the period. Abner Herrman & Brock LLC raised its holdings in shares of American International Group by 3.3% in the fourth quarter. Abner Herrman & Brock LLC now owns 154,770 shares of the insurance provider's stock valued at $11,267,000 after acquiring an additional 4,974 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of American International Group by 94.4% during the 4th quarter. Principal Securities Inc. now owns 11,374 shares of the insurance provider's stock worth $828,000 after purchasing an additional 5,522 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in American International Group by 34.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 11,161 shares of the insurance provider's stock valued at $813,000 after acquiring an additional 2,874 shares in the last quarter. Finally, Avantra Family Wealth Inc. acquired a new stake in American International Group in the 4th quarter worth approximately $1,204,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Down 0.0%

Shares of NYSE:AIG traded down $0.03 during trading on Thursday, reaching $84.98. The stock had a trading volume of 697,396 shares, compared to its average volume of 4,643,185. The business has a fifty day moving average price of $82.52 and a 200-day moving average price of $78.41. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The stock has a market cap of $48.98 billion, a P/E ratio of -40.85, a PEG ratio of 1.01 and a beta of 0.64.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the prior year, the firm posted $1.25 EPS. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio (DPR) is -67.67%.

Insider Activity at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction dated 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 directly owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley upped their price objective on American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. The Goldman Sachs Group upped their target price on shares of American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, April 1st. Wells Fargo & Company upped their price objective on 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. Evercore ISI raised their target price on 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. Finally, Jefferies Financial Group increased their price target 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. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.