Intech Investment Management LLC Decreases Stake in American International Group, Inc. (NYSE:AIG)

Intech Investment Management LLC lessened its stake in American International Group, Inc. (NYSE:AIG) by 38.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 59,234 shares of the insurance provider’s stock after selling 36,297 shares during the quarter. Intech Investment Management LLC’s holdings in American International Group were worth $4,312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new position in shares of American International Group in the 4th quarter valued at about $25,000. Asset Planning Inc purchased a new position in shares of American International Group in the 4th quarter valued at about $26,000. True Wealth Design LLC purchased a new position in shares of American International Group in the 3rd quarter valued at about $29,000. BankPlus Trust Department purchased a new position in shares of American International Group in the 4th quarter valued at about $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of American International Group by 60.7% in the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity

In related news, Director John G. Rice bought 10,000 shares of the company’s 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 acquisition, the director now owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AIG. UBS Group decreased their target price on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company boosted their target price on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group restated a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods boosted their target price on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Trading Up 0.1 %

NYSE:AIG opened at $84.01 on Wednesday. The firm has a market cap of $49.85 billion, a P/E ratio of -40.39, a PEG 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. The stock’s 50 day simple moving average is $76.71 and its 200-day simple moving average is $75.41. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $84.99.

American International Group (NYSE:AIG) last released its 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%. Equities 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, March 17th. American International Group’s payout ratio is currently -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.