American International Group, Inc. (NYSE:AIG) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC cut its position in shares of American International Group, Inc. (NYSE:AIG) by 22.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,343 shares of the insurance provider’s stock after selling 2,917 shares during the quarter. Stonegate Investment Group LLC’s holdings in American International Group were worth $899,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AIG. Norges Bank acquired a new position in shares of American International Group during the 4th quarter valued at $718,013,000. Balyasny Asset Management L.P. acquired a new position in shares of American International Group during the 4th quarter valued at $135,325,000. Wellington Management Group LLP increased its position in shares of American International Group by 7.2% during 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 purchasing an additional 1,791,964 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of American International Group by 2,134.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider’s stock valued at $103,885,000 after purchasing an additional 1,363,108 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of American International Group during the 4th quarter valued at $95,074,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of American International Group stock opened at $85.02 on Friday. The stock has a market cap of $49.00 billion, a PE ratio of -31.96, a price-to-earnings-growth ratio of 0.92 and a beta of 0.64. The business has a fifty day simple moving average of $83.15 and a 200-day simple moving average of $79.17. The company has a quick ratio of 0.64, a current ratio of 0.64 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.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same quarter last year, the firm posted $1.25 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced 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. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio (DPR) is -67.67%.

Insider Buying and Selling

In related news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 21,400 shares in the company, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AIG shares. Barclays lifted their price target on American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Jefferies Financial Group raised their price objective on American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. BMO Capital Markets raised their price objective on 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, Morgan Stanley raised their price objective on American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

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.