Morton Community Bank Trims Stock Holdings in American International Group, Inc. (NYSE:AIG)

Morton Community Bank reduced its stake in American International Group, Inc. (NYSE:AIG) by 75.4% during the 4th quarter, Holdings Channel reports. The fund owned 11,305 shares of the insurance provider’s stock after selling 34,605 shares during the period. Morton Community Bank’s holdings in American International Group were worth $823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Independent Advisor Alliance lifted its position in shares of American International Group by 56.0% in the fourth quarter. Independent Advisor Alliance now owns 16,211 shares of the insurance provider’s stock valued at $1,180,000 after acquiring an additional 5,818 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in American International Group by 6.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 107,499 shares of the insurance provider’s stock worth $7,825,000 after buying an additional 6,502 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in American International Group by 2.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,750 shares of the insurance provider’s stock worth $19,055,000 after buying an additional 7,278 shares during the period. Personal CFO Solutions LLC lifted its position in American International Group by 8.9% during the fourth quarter. Personal CFO Solutions LLC now owns 6,414 shares of the insurance provider’s stock worth $467,000 after buying an additional 524 shares during the period. Finally, AMF Tjanstepension AB purchased a new position in American International Group during the fourth quarter worth about $12,475,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

AIG stock opened at $81.58 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $83.77. The firm has a market cap of $48.40 billion, a P/E ratio of -39.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The stock has a 50-day simple moving average of $75.35 and a 200-day simple moving average of $75.06.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, equities analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insider Buying and Selling at American International Group

In other news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

AIG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 target price (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Eight research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

About American International Group

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.