Optas LLC Reduces Stock Holdings in American International Group, Inc. (NYSE:AIG)

Optas LLC lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,686 shares of the insurance provider’s stock after selling 476 shares during the period. Optas LLC’s holdings in American International Group were worth $234,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AIG. Capital Research Global Investors lifted its stake in American International Group by 1.4% in the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock valued at $2,540,050,000 after buying an additional 482,724 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after acquiring an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. raised its position in American International Group by 3.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares during the last quarter. Franklin Resources Inc. boosted its stake in American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after purchasing an additional 1,284,354 shares during the period. Finally, Norges Bank acquired a new stake in American International Group during the 4th quarter worth $718,013,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Jefferies Financial Group increased their price objective on American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Wednesday, March 5th. Morgan Stanley increased their price target on American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.12.

American International Group Trading Down 1.5%

Shares of American International Group stock opened at $84.52 on Monday. The company has a 50-day moving average of $82.83 and a two-hundred day moving average of $78.89. American International Group, Inc. has a 12-month low of $69.00 and a 12-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 stock has a market cap of $48.71 billion, a PE ratio of -40.63, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64.

American International Group (NYSE:AIG) last released its quarterly earnings data 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 firm had revenue of $6.77 billion during 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, research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.45 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio (DPR) is currently -67.67%.

Insider Transactions at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the firm’s stock in a transaction that occurred 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 $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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.