Xponance Inc. cut its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,554 shares of the insurance provider's stock after selling 4,122 shares during the quarter. Xponance Inc.'s holdings in American International Group were worth $11,350,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in American International Group during the 4th quarter valued at approximately $718,013,000. Bank of New York Mellon Corp lifted its position in American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of American International Group during the fourth quarter worth about $135,325,000. Wellington Management Group LLP grew its stake in American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock valued at $1,951,427,000 after acquiring an additional 1,791,964 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in American International Group by 2,134.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider's stock worth $103,885,000 after buying an additional 1,363,108 shares during the period. 90.60% of the stock is owned by institutional investors.
Insider Buying and Selling
In other American International Group 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 completion of the transaction, the executive vice president directly owned 21,400 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.
Wall Street Analyst Weigh In
AIG has been the subject of several recent analyst reports. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $91.00 price objective (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company boosted their price objective on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group upped their target price on American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American International Group to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $88.12.
Check Out Our Latest Stock Report on American International Group
American International Group Price Performance
AIG traded down $0.55 during trading on Tuesday, hitting $81.08. The company's stock had a trading volume of 4,796,294 shares, compared to its average volume of 4,624,105. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $46.73 billion, a price-to-earnings ratio of -30.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.63. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The firm's 50 day moving average price is $83.82 and its two-hundred day moving average price is $80.42.
American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.25 earnings per share. Sell-side analysts forecast 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 was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $0.45 per share. This is a positive change from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.80 annualized dividend and a yield of 2.22%. American International Group's dividend payout ratio (DPR) is presently -67.67%.
American International Group Company Profile
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Free Report)
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.
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