Commonwealth Equity Services LLC Lowers Holdings in American International Group, Inc. (NYSE:AIG)

Commonwealth Equity Services LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 290,863 shares of the insurance provider’s stock after selling 5,606 shares during the period. Commonwealth Equity Services LLC’s holdings in American International Group were worth $21,175,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP raised its position in American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares in the last quarter. Prana Capital Management LP increased its holdings in shares of American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after purchasing an additional 1,391,859 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of American International Group during the 4th quarter valued at approximately $95,074,000. Swedbank AB lifted its stake in shares of American International Group by 70.6% in the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock valued at $154,896,000 after purchasing an additional 880,625 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in American International Group by 9,790.9% during the fourth quarter. Proficio Capital Partners LLC now owns 690,185 shares of the insurance provider’s stock worth $50,245,000 after buying an additional 683,207 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Up 2.2 %

Shares of AIG opened at $83.37 on Monday. The stock has a fifty day simple moving average of $76.25 and a two-hundred day simple moving average of $75.30. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $49.47 billion, a PE ratio of -40.08, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $83.77.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insider Transactions at American International Group

In related news, Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AIG shares. Wells Fargo & Company upped their price objective on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, March 5th. Keefe, Bruyette & Woods raised their price objective on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Morgan Stanley upped their target price on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.31.

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.