Cornercap Investment Counsel Inc. Sells 409 Shares of American International Group, Inc. (NYSE:AIG)

Cornercap Investment Counsel Inc. trimmed its stake in American International Group, Inc. (NYSE:AIG) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,660 shares of the insurance provider’s stock after selling 409 shares during the period. Cornercap Investment Counsel Inc.’s holdings in American International Group were worth $630,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Catalina Capital Group LLC boosted its stake in shares of American International Group by 5.1% in the 4th quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 148 shares during the last quarter. Hilltop National Bank boosted its stake in American International Group by 4.7% during the fourth quarter. Hilltop National Bank now owns 3,888 shares of the insurance provider’s stock worth $283,000 after acquiring an additional 175 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of American International Group by 2.1% in the 4th quarter. Cidel Asset Management Inc. now owns 8,711 shares of the insurance provider’s stock valued at $634,000 after buying an additional 179 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of American International Group by 11.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,745 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 179 shares in the last quarter. Finally, Foster & Motley Inc. raised its position in shares of American International Group by 0.8% during the fourth quarter. Foster & Motley Inc. now owns 23,552 shares of the insurance provider’s stock worth $1,715,000 after purchasing an additional 194 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AIG shares. Wells Fargo & Company lifted their price target on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their target price on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. The Goldman Sachs Group reissued 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. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods upped their price target on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Eight 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 stock. Based on data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus price target of $84.31.

Insider Activity at American International Group

In other American International Group news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Performance

Shares of AIG stock opened at $83.55 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $49.57 billion, a price-to-earnings ratio of -40.17, a P/E/G ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $85.11. The firm’s 50-day simple moving average is $78.53 and its two-hundred day simple moving average is $75.93.

American International Group (NYSE:AIG) last posted its quarterly 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 positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, equities analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed 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 dividend payout ratio (DPR) is currently -76.92%.

American International Group 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.