M&T Bank Corp Lowers Stake in American International Group, Inc. (NYSE:AIG)

M&T Bank Corp decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 3.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 90,776 shares of the insurance provider’s stock after selling 2,908 shares during the period. M&T Bank Corp’s holdings in American International Group were worth $7,892,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AIG. Ameriflex Group Inc. purchased a new position in shares of American International Group during the 4th quarter worth about $29,000. NBC Securities Inc. acquired a new stake in shares of American International Group during the 1st quarter worth $47,000. Colonial Trust Co SC increased its holdings in shares of American International Group by 150.2% during the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider’s stock worth $54,000 after buying an additional 443 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of American International Group by 159.6% during the 4th quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider’s stock worth $76,000 after buying an additional 640 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of American International Group by 359.9% during the 1st quarter. Versant Capital Management Inc now owns 1,113 shares of the insurance provider’s stock worth $97,000 after buying an additional 871 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Down 0.2%

AIG opened at $83.05 on Thursday. The stock has a market capitalization of $47.86 billion, a PE ratio of -31.22, a P/E/G ratio of 0.91 and a beta of 0.63. The firm’s fifty day moving average price is $83.84 and its 200 day moving average price is $80.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. 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 posted its quarterly earnings results 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. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.45 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, June 13th. American International Group’s payout ratio is currently -67.67%.

Analyst Ratings Changes

A number of analysts have recently issued reports on AIG shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $91.00 target price (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. BMO Capital Markets boosted their target price on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft boosted their target price on American International Group to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Barclays lifted 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. Finally, Wells Fargo & Company lifted their target price on shares of American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.12.

Insiders Place Their Bets

In related news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was 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 directly owned 21,400 shares of the company’s stock, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

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.