Prudential Financial Inc. Sells 114,994 Shares of American International Group, Inc. (NYSE:AIG)

Prudential Financial Inc. lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,757 shares of the insurance provider’s stock after selling 114,994 shares during the period. Prudential Financial Inc. owned approximately 0.07% of American International Group worth $31,505,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on AIG. HSBC upgraded shares of 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. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods increased their target price on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. UBS Group reduced their price target on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, BMO Capital Markets raised their price objective on shares of American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, March 13th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.31.

American International Group Price Performance

Shares of NYSE AIG opened at $83.92 on Wednesday. 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 $49.79 billion, a PE ratio of -40.35, a P/E/G ratio of 1.01 and a beta of 0.98. The firm has a fifty day simple moving average of $77.94 and a 200 day simple moving average of $75.71. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $84.99.

American International Group (NYSE:AIG) last announced its quarterly earnings data 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 negative net margin of 4.25% and a positive return on equity of 8.01%. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

Insider Activity

In other news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.