Hartford Investment Management Co. Sells 2,359 Shares of American International Group, Inc. (NYSE:AIG)

Hartford Investment Management Co. reduced its holdings in American International Group, Inc. (NYSE:AIG) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,289 shares of the insurance provider’s stock after selling 2,359 shares during the quarter. Hartford Investment Management Co.’s holdings in American International Group were worth $3,155,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of American International Group by 175.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider’s stock worth $15,807,000 after acquiring an additional 115,706 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of American International Group by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider’s stock worth $1,445,000 after acquiring an additional 355 shares in the last quarter. IFP Advisors Inc raised its stake in shares of American International Group by 34.9% in the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider’s stock valued at $251,000 after purchasing an additional 745 shares during the period. GAMMA Investing LLC raised its stake in shares of American International Group by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider’s stock valued at $1,146,000 after purchasing an additional 2,069 shares during the period. Finally, Brighton Jones LLC acquired a new stake in shares of American International Group in the 4th quarter valued at about $1,091,000. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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 note on Friday, May 2nd. Jefferies Financial Group lifted their price target on American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target on American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Morgan Stanley lifted their price target on 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $91.00 price target (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and a consensus price target of $88.19.

American International Group Price Performance

Shares of NYSE AIG opened at $76.97 on Friday. The business’s 50 day moving average price is $82.94 and its two-hundred day moving average price is $81.04. The company has a market cap of $44.36 billion, a PE ratio of -28.94, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. 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 twelve month low of $69.00 and a twelve month high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.25 earnings per share. On average, analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

Insiders Place Their Bets

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president 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 hyperlink. 0.50% of the stock is currently owned by company 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.