Clearbridge Investments LLC Decreases Stock Position in American International Group, Inc. (NYSE:AIG)

Clearbridge Investments LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 12.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,132,727 shares of the insurance provider’s stock after selling 574,782 shares during the quarter. Clearbridge Investments LLC’s holdings in American International Group were worth $300,863,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in shares of American International Group by 16.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 20,511 shares of the insurance provider’s stock valued at $1,465,000 after buying an additional 2,836 shares during the last quarter. RWA Wealth Partners LLC increased its stake in American International Group by 30.0% in the fourth quarter. RWA Wealth Partners LLC now owns 4,265 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 984 shares during the period. Schroder Investment Management Group lifted its position in shares of American International Group by 3.9% during the fourth quarter. Schroder Investment Management Group now owns 321,646 shares of the insurance provider’s stock worth $23,335,000 after purchasing an additional 11,951 shares during the last quarter. Allianz SE purchased a new stake in shares of American International Group during the fourth quarter valued at $7,953,000. Finally, Allstate Corp bought a new position in shares of American International Group in the fourth quarter worth about $1,497,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG opened at $83.55 on Friday. The firm has a 50 day moving average of $78.53 and a two-hundred day moving average of $75.93. The firm has a market capitalization of $49.57 billion, a PE ratio of -40.17, a P/E/G ratio of 1.01 and a beta of 0.98. 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, Inc. has a 12-month low of $69.00 and a 12-month high of $85.11.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS 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%. On average, analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

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

Wall Street Analyst Weigh In

AIG has been the topic of a number of research analyst reports. UBS Group dropped their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods raised their price objective on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. BMO Capital Markets upped their target price 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. Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, American International Group has an average rating of “Moderate Buy” and a consensus target price of $84.31.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice purchased 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $770,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.