American International Group, Inc. (NYSE:AIG) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lessened its position in American International Group, Inc. (NYSE:AIG) by 32.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 184,048 shares of the insurance provider’s stock after selling 87,588 shares during the quarter. State of Tennessee Department of Treasury’s holdings in American International Group were worth $13,399,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AIG. Capital Research Global Investors increased its position in shares of American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after acquiring an additional 482,724 shares during the period. Wellington Management Group LLP grew its stake in American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after purchasing an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after purchasing an additional 461,912 shares during the period. Franklin Resources Inc. raised its position in American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after purchasing an additional 1,284,354 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of American International Group in the 4th quarter valued at about $718,013,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Up 2.9 %

AIG stock opened at $81.67 on Wednesday. The company has a market cap of $48.63 billion, a price-to-earnings ratio of -39.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The company has a fifty day moving average price of $81.23 and a 200 day moving average price of $77.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 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 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. American International Group’s payout ratio is -76.92%.

Analyst Ratings Changes

A number of analysts recently weighed in on AIG shares. The Goldman Sachs Group upped their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American International Group to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. UBS Group decreased their price objective on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $91.00 price target (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Finally, HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Nine 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.65.

Insider Buying and Selling at American International Group

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 price of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

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.