Y Intercept Hong Kong Ltd Acquires New Holdings in American International Group, Inc. (NYSE:AIG)

Y Intercept Hong Kong Ltd acquired a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 66,425 shares of the insurance provider's stock, valued at approximately $5,775,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIG. Ameriflex Group Inc. bought a new position in shares of American International Group during the 4th quarter worth approximately $29,000. Sachetta LLC increased its position in American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after buying an additional 249 shares in the last quarter. NBC Securities Inc. purchased a new stake in American International Group in the first quarter valued at about $47,000. Colonial Trust Co SC boosted its holdings in American International Group by 150.2% in the fourth quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock worth $54,000 after acquiring an additional 443 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of American International Group by 159.6% during the fourth quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider's stock worth $76,000 after acquiring an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on AIG shares. Wells Fargo & Company lifted their target price on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price target on American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Evercore ISI increased their price objective on American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Finally, Morgan Stanley lifted their target price on American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American International Group currently has an average rating of "Moderate Buy" and a consensus target price of $88.19.

Insiders Place Their Bets

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the 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 transaction, the executive vice president owned 21,400 shares of the company's stock, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.

American International Group Price Performance

Shares of NYSE:AIG traded down $0.23 during trading on Thursday, reaching $79.28. 3,485,945 shares of the company's stock traded hands, compared to its average volume of 4,577,313. The firm has a market cap of $45.69 billion, a PE ratio of -29.80, a P/E/G ratio of 0.90 and a beta of 0.63. 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 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $83.59 and a 200-day simple moving average of $80.71.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.04 by $0.13. The company 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 7.13% and a negative net margin of 7.05%. During the same period last year, the company earned $1.25 earnings per share. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from American International Group's previous quarterly dividend of $0.40. American International Group's payout ratio is currently -67.67%.

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.