Glenmede Trust Co. NA Has $3.88 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Glenmede Trust Co. NA reduced its position in American International Group, Inc. (NYSE:AIG) by 5.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 52,937 shares of the insurance provider’s stock after selling 3,315 shares during the period. Glenmede Trust Co. NA’s holdings in American International Group were worth $3,877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in American International Group in the third quarter worth about $26,000. Fortitude Family Office LLC grew its position in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the second quarter worth approximately $27,000. Versant Capital Management Inc lifted its holdings in American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after buying an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in American International Group in the third quarter valued at approximately $46,000. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AIG shares. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Bank of America upped their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Evercore ISI reduced their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

American International Group Stock Down 0.3 %

Shares of AIG stock opened at $76.88 on Friday. American International Group, Inc. has a 12-month low of $64.81 and a 12-month high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $75.82 and a 200-day moving average of $75.48. The company has a market capitalization of $47.96 billion, a price-to-earnings ratio of -22.68, a P/E/G ratio of 7.65 and a beta of 1.05.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter last year, the business posted $1.61 EPS. As a group, equities research analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is -47.20%.

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.