Highland Capital Management LLC Decreases Position in American International Group, Inc. (NYSE:AIG)

Highland Capital Management LLC cut its stake in American International Group, Inc. (NYSE:AIG) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,131 shares of the insurance provider’s stock after selling 960 shares during the quarter. Highland Capital Management LLC’s holdings in American International Group were worth $6,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 3Chopt Investment Partners LLC purchased a new position in American International Group in the 1st quarter valued at about $350,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in American International Group by 17.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,232 shares of the insurance provider’s stock valued at $5,120,000 after buying an additional 9,061 shares in the last quarter. Achmea Investment Management B.V. lifted its stake in American International Group by 29.8% in the 1st quarter. Achmea Investment Management B.V. now owns 253,149 shares of the insurance provider’s stock valued at $22,009,000 after buying an additional 58,072 shares in the last quarter. Artemis Investment Management LLP lifted its stake in American International Group by 3.4% in the 1st quarter. Artemis Investment Management LLP now owns 283,528 shares of the insurance provider’s stock valued at $24,650,000 after buying an additional 9,282 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in American International Group by 22.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 163,244 shares of the insurance provider’s stock valued at $14,192,000 after buying an additional 30,140 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 21,400 shares in the company, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

American International Group Stock Performance

NYSE AIG opened at $84.60 on Friday. 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 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $83.52 and a 200-day simple moving average of $79.50. The stock has a market cap of $48.76 billion, a PE ratio of -31.80, a P/E/G ratio of 0.92 and a beta of 0.64.

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. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same quarter last year, the firm earned $1.25 EPS. Equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio (DPR) is -67.67%.

Analyst Ratings Changes

AIG has been the topic of a number of research reports. Morgan Stanley raised their price target on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Jefferies Financial Group increased their price objective 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. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. Finally, HSBC upgraded 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 report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and a consensus price target 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.