NorthCrest Asset Manangement LLC Buys 169 Shares of American International Group, Inc. (NYSE:AIG)

NorthCrest Asset Manangement LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,737 shares of the insurance provider’s stock after purchasing an additional 169 shares during the period. NorthCrest Asset Manangement LLC’s holdings in American International Group were worth $1,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new stake in American International Group during the fourth quarter valued at approximately $25,000. Asset Planning Inc purchased a new stake in American International Group during the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in American International Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department purchased a new stake in American International Group during the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in American International Group during the fourth quarter valued at approximately $40,000. Institutional investors own 90.60% of the company’s stock.

Insider Activity at American International Group

In related 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 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 approximately $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 SEC, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

American International Group Stock Performance

AIG opened at $83.58 on Friday. The stock has a market capitalization of $48.17 billion, a price-to-earnings ratio of -40.18, a PEG ratio of 1.01 and a beta of 0.69. The company has a fifty day moving average of $82.43 and a 200 day moving average of $78.14. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations 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 period last year, the company posted $1.25 earnings per share. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.15%. This is a boost from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, June 13th. American International Group’s dividend payout ratio (DPR) is presently -67.67%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays upped their target price on shares of American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Jefferies Financial Group upped their target price on shares of American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 11th. Morgan Stanley upped their target price on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Finally, UBS Group reduced their price objective on shares of 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. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.12.

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.