Pictet Asset Management Holding SA Sells 22,105 Shares of American International Group, Inc. (NYSE:AIG)

Pictet Asset Management Holding SA trimmed its position in American International Group, Inc. (NYSE:AIG) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 295,711 shares of the insurance provider’s stock after selling 22,105 shares during the quarter. Pictet Asset Management Holding SA’s holdings in American International Group were worth $21,528,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Duncker Streett & Co. Inc. acquired a new position in American International Group during the 4th quarter worth approximately $25,000. Asset Planning Inc bought a new stake in shares of American International Group in the fourth quarter worth $26,000. True Wealth Design LLC acquired a new position in American International Group during the third quarter worth $29,000. BankPlus Trust Department bought a new position in American International Group in the fourth quarter valued at $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in American International Group in the 4th quarter valued at $40,000. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AIG shares. UBS Group decreased their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price target on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. 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 report on Wednesday, March 5th. JPMorgan Chase & Co. lowered 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. Finally, Morgan Stanley increased their price target on shares of 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. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus price target of $84.31.

Insiders Place Their Bets

In related news, Director John G. Rice acquired 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $87.01 on Tuesday. The company has a market capitalization of $51.63 billion, a price-to-earnings ratio of -41.83, 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. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $87.51. The stock’s 50 day moving average is $78.77 and its 200-day moving average is $76.05.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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%. Equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio is -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.