Cresset Asset Management LLC Sells 46,988 Shares of American International Group, Inc. (NYSE:AIG)

Cresset Asset Management LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,338 shares of the insurance provider’s stock after selling 46,988 shares during the period. Cresset Asset Management LLC’s holdings in American International Group were worth $8,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Artemis Investment Management LLP grew its holdings in American International Group by 115.9% in the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after buying an additional 147,235 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in American International Group by 5.2% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock worth $5,155,000 after acquiring an additional 3,490 shares during the period. Jones Financial Companies Lllp raised its stake in American International Group by 54.3% during the 4th 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 last quarter. Merit Financial Group LLC bought a new stake in American International Group in the 4th quarter valued at $1,260,000. Finally, Williams & Novak LLC acquired a new stake in American International Group in the 4th quarter worth $279,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Down 1.0 %

Shares of NYSE AIG opened at $81.69 on Thursday. The firm has a 50 day moving average price of $82.26 and a 200 day moving average price of $77.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $48.65 billion, a P/E ratio of -39.27, a P/E/G ratio of 1.01 and a beta of 0.69. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.45 per share. This is a boost from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, June 13th. American International Group’s dividend payout ratio is currently -67.67%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIG. Wells Fargo & Company increased their target price on shares of American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Tuesday. Morgan Stanley raised their target price on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $98.00 to $94.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Finally, UBS Group reduced their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Nine equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.71.

Insider Buying and Selling

In other news, EVP Christopher Flatt sold 46,182 shares of the firm’s 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 transaction, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at $1,781,764. This trade represents a 68.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

American International Group 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.