Morton Community Bank Decreases Position in American International Group, Inc. (NYSE:AIG)

Morton Community Bank decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 75.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,305 shares of the insurance provider’s stock after selling 34,605 shares during the quarter. Morton Community Bank’s holdings in American International Group were worth $823,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AIG. Van ECK Associates Corp lifted its stake in American International Group by 6.0% during the third quarter. Van ECK Associates Corp now owns 7,645 shares of the insurance provider’s stock worth $592,000 after purchasing an additional 435 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in American International Group during the third quarter worth approximately $205,000. Principal Financial Group Inc. lifted its stake in American International Group by 1.3% during the third quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock worth $53,785,000 after purchasing an additional 9,118 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in American International Group in the third quarter valued at approximately $57,000. Finally, Atria Investments Inc lifted its stake in American International Group by 29.2% in the third quarter. Atria Investments Inc now owns 60,986 shares of the insurance provider’s stock valued at $4,466,000 after buying an additional 13,771 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.4 %

Shares of AIG stock opened at $81.58 on Monday. The business’s fifty day moving average price is $75.35 and its 200 day moving average price is $75.06. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $83.77. The firm has a market capitalization of $48.40 billion, a PE ratio of -39.22, a P/E/G ratio of 1.01 and a beta of 0.98. 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 (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share 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, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio is presently -76.92%.

Analysts Set New Price Targets

AIG has been the subject of a number of research reports. Morgan Stanley boosted their price objective on 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. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. UBS Group reduced their price objective 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. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Eight investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Buying and Selling at American International Group

In other news, Director John G. Rice bought 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were bought 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.