Korea Investment CORP Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Korea Investment CORP cut its position in shares of American International Group, Inc. (NYSE:AIG) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 650,161 shares of the insurance provider’s stock after selling 120,256 shares during the period. Korea Investment CORP’s holdings in American International Group were worth $47,332,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new stake in shares of American International Group during the 4th quarter worth about $25,000. Asset Planning Inc acquired a new position in American International Group in the 4th quarter worth about $26,000. True Wealth Design LLC purchased a new position in American International Group during the third quarter worth approximately $29,000. BankPlus Trust Department acquired a new stake in American International Group in the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other American International Group news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AIG. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 price objective (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. 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 report on Friday, February 14th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets lifted their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, March 13th. Eight research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Stock Up 0.5 %

Shares of NYSE:AIG opened at $84.60 on Friday. The company has a market capitalization of $50.19 billion, a price-to-earnings ratio of -40.67, a PEG ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $85.11. The business has a 50-day moving average price of $78.36 and a 200 day moving average price of $75.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last released 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 negative net margin of 4.25% and a positive return on equity of 8.01%. Sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

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.