Horizon Investments LLC Cuts Holdings in American International Group, Inc. (NYSE:AIG)

Horizon Investments LLC reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,004 shares of the insurance provider’s stock after selling 734 shares during the quarter. Horizon Investments LLC’s holdings in American International Group were worth $1,383,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP boosted 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 worth $1,831,727,000 after purchasing an additional 6,119,996 shares in the last quarter. Prana Capital Management LP lifted its position 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 buying an additional 1,391,859 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in American International Group in the 4th quarter valued at $95,074,000. Swedbank AB increased its holdings in American International Group by 70.6% in the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock worth $154,896,000 after acquiring an additional 880,625 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position 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 acquiring an additional 683,207 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AIG has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. BMO Capital Markets lifted their price objective 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. Wells Fargo & Company increased their target price on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, American International Group currently has a consensus rating of “Moderate Buy” and an average target price of $84.31.

American International Group Price Performance

American International Group stock opened at $83.67 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $76.95 and a 200 day moving average price of $75.47. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $84.99. The stock has a market cap of $49.64 billion, a P/E ratio of -40.23, a PEG ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio is presently -76.92%.

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.