Connecticut Wealth Management LLC Reduces Position in American International Group, Inc. (NYSE:AIG)

Connecticut Wealth Management LLC cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 29.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 128,576 shares of the insurance provider’s stock after selling 54,518 shares during the quarter. American International Group comprises approximately 0.4% of Connecticut Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Connecticut Wealth Management LLC’s holdings in American International Group were worth $9,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. City National Bank of Florida MSD purchased a new stake in shares of American International Group during the fourth quarter valued at $298,000. DCM Advisors LLC lifted its position in shares of American International Group by 5.5% during the 4th quarter. DCM Advisors LLC now owns 112,469 shares of the insurance provider’s stock valued at $8,188,000 after buying an additional 5,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of American International Group by 12.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,813,138 shares of the insurance provider’s stock valued at $350,396,000 after buying an additional 519,715 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of American International Group by 31.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 476,556 shares of the insurance provider’s stock valued at $34,693,000 after buying an additional 113,532 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in shares of American International Group by 2,018.3% during the 4th quarter. Vident Advisory LLC now owns 217,042 shares of the insurance provider’s stock valued at $15,801,000 after buying an additional 206,796 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $91.00 price target (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Barclays boosted their price target on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Nine research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.12.

Insider Activity

In related news, EVP Christopher Flatt sold 46,182 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

American International Group Trading Down 1.7%

Shares of NYSE AIG opened at $82.65 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $47.63 billion, a P/E ratio of -39.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.69. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The business has a fifty day moving average price of $82.59 and a 200 day moving average price of $77.88.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (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 period in the prior year, the company posted $1.25 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 2.18%. American International Group’s dividend 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.