Richard Bernstein Advisors LLC Decreases Position in American International Group, Inc. (NYSE:AIG)

Richard Bernstein Advisors LLC lowered its position in American International Group, Inc. (NYSE:AIG - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,555 shares of the insurance provider's stock after selling 4,260 shares during the period. Richard Bernstein Advisors LLC's holdings in American International Group were worth $6,830,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of American International Group by 175.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock worth $15,807,000 after acquiring an additional 115,706 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of American International Group by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after acquiring an additional 355 shares during the period. Jones Financial Companies Lllp grew 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 purchasing an additional 4,468 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in American International Group by 34.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 11,161 shares of the insurance provider's stock valued at $813,000 after purchasing an additional 2,874 shares during the period. Finally, GAMMA Investing LLC grew its holdings in American International Group by 18.6% during the first quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock valued at $1,146,000 after purchasing an additional 2,069 shares during the period. Institutional investors own 90.60% of the company's stock.

Insider Activity at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president directly owned 21,400 shares in the company, valued at approximately $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company's stock.

American International Group Price Performance

Shares of NYSE:AIG traded down $0.15 during mid-day trading on Wednesday, reaching $83.05. The stock had a trading volume of 2,852,239 shares, compared to its average volume of 4,368,788. 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 cap of $47.86 billion, a P/E ratio of -31.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The business's 50 day moving average price is $83.84 and its 200 day moving average price is $80.13.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same period in the previous year, the business earned $1.25 earnings per share. Research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.45 dividend. 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 dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, June 13th. American International Group's payout ratio is currently -67.67%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group boosted their price target on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, April 11th. Morgan Stanley boosted their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. BMO Capital Markets boosted their price target on American International Group from $75.00 to $83.00 and gave the company a "market perform" rating in a report on Thursday, March 13th. Wells Fargo & Company boosted their price target on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Barclays boosted their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.12.

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.