Man Group plc Reduces Holdings in American International Group, Inc. (NYSE:AIG)

Man Group plc lowered its holdings in shares of American International Group, Inc. (NYSE:AIG) by 70.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 50,949 shares of the insurance provider’s stock after selling 123,148 shares during the quarter. Man Group plc’s holdings in American International Group were worth $3,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AIG. Nomura Holdings Inc. purchased a new position in shares of American International Group during the 4th quarter worth approximately $1,496,000. Nearwater Capital Markets Ltd acquired a new stake in American International Group during the 4th quarter valued at $13,832,000. NorthRock Partners LLC increased its position in American International Group by 51.8% during the fourth quarter. NorthRock Partners LLC now owns 10,220 shares of the insurance provider’s stock worth $744,000 after buying an additional 3,486 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of American International Group by 12.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,934 shares of the insurance provider’s stock worth $15,429,000 after acquiring an additional 23,809 shares during the last quarter. Finally, LRI Investments LLC lifted its position in shares of American International Group by 7.5% in the fourth quarter. LRI Investments LLC now owns 4,905 shares of the insurance provider’s stock valued at $357,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the firm’s 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 transaction, the executive vice president now owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on AIG shares. Morgan Stanley lifted their price objective on American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday. Wells Fargo & Company lifted their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. HSBC raised 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. 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 note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods increased their price target 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

American International Group Trading Down 1.7%

Shares of AIG opened at $82.65 on Thursday. The stock’s fifty day simple moving average is $82.59 and its 200 day simple moving average is $77.88. American International Group, Inc. has a twelve month low of $69.00 and a twelve month 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 firm 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 (NYSE:AIG) last released 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 company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. During the same period last year, the business posted $1.25 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share 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. Investors of record on Friday, June 13th will be issued a $0.45 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.80 annualized dividend and a yield of 2.18%. American International Group’s dividend payout ratio (DPR) is presently -67.67%.

American International Group Company 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.