City National Bank of Florida MSD Buys Shares of 4,092 American International Group, Inc. (NYSE:AIG)

City National Bank of Florida MSD bought a new position in shares of American International Group, Inc. (NYSE:AIG) during the fourth quarter, HoldingsChannel reports. The fund bought 4,092 shares of the insurance provider’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arkadios Wealth Advisors grew its position in American International Group by 13.8% during the 4th quarter. Arkadios Wealth Advisors now owns 3,373 shares of the insurance provider’s stock worth $246,000 after acquiring an additional 408 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of American International Group by 21.5% during the fourth quarter. UMB Bank n.a. now owns 1,793 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 317 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of American International Group by 3.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 40,481 shares of the insurance provider’s stock worth $2,947,000 after purchasing an additional 1,205 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in shares of American International Group by 17.0% during the fourth quarter. Atomi Financial Group Inc. now owns 10,293 shares of the insurance provider’s stock worth $749,000 after purchasing an additional 1,499 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of American International Group by 3.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 240,885 shares of the insurance provider’s stock valued at $17,536,000 after buying an additional 8,558 shares during the period. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the topic of several recent research reports. BMO Capital Markets lifted their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $91.00 price target (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Morgan Stanley lifted their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday. 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 research note on Thursday, May 8th. Finally, UBS Group lowered their target price on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.12.

Insiders Place Their Bets

In other news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the sale, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

American International Group Stock Performance

Shares of American International Group stock opened at $82.65 on Thursday. The business has a 50-day moving average price of $82.59 and a two-hundred day moving average price of $77.88. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a market cap of $47.63 billion, a P/E ratio of -39.74, a PEG ratio of 1.01 and a beta of 0.69.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.45 dividend. The ex-dividend date is Friday, June 13th. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.18%. American International Group’s payout ratio is -67.67%.

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.