Twinbeech Capital LP Decreases Holdings in American International Group, Inc. (NYSE:AIG)

Twinbeech Capital LP reduced its position in American International Group, Inc. (NYSE:AIG) by 80.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,726 shares of the insurance provider’s stock after selling 123,217 shares during the period. Twinbeech Capital LP’s holdings in American International Group were worth $2,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AIG. True Wealth Design LLC lifted its holdings in American International Group by 159.6% in the fourth quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 640 shares during the period. State of Wyoming purchased a new stake in shares of American International Group during the 4th quarter valued at about $349,000. Snowden Capital Advisors LLC lifted its stake in shares of American International Group by 1.4% in the 4th quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider’s stock worth $769,000 after purchasing an additional 146 shares during the period. Royal Bank of Canada lifted its stake in shares of American International Group by 9.2% in the 4th quarter. Royal Bank of Canada now owns 2,519,123 shares of the insurance provider’s stock worth $183,392,000 after purchasing an additional 212,616 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in shares of American International Group by 0.8% in the fourth quarter. Rafferty Asset Management LLC now owns 220,070 shares of the insurance provider’s stock worth $16,021,000 after buying an additional 1,770 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Down 1.7%

Shares of AIG opened at $82.65 on Thursday. The business’s 50 day moving average is $82.59 and its 200 day moving average is $77.88. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07. The company has a market capitalization of $47.63 billion, a PE 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.89 billion. During the same quarter last year, the business posted $1.25 earnings per share. Research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on AIG. Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. UBS Group reduced their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Barclays raised their target price on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Wells Fargo & Company boosted their price target on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their price objective on American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.12.

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.