PNC Financial Services Group Inc. Sells 1,436 Shares of American International Group, Inc. (NYSE:AIG)

PNC Financial Services Group Inc. lowered its position in American International Group, Inc. (NYSE:AIG) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,347 shares of the insurance provider’s stock after selling 1,436 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American International Group were worth $15,386,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new stake in shares of American International Group in the 4th quarter worth $25,000. Asset Planning Inc bought a new stake in shares of American International Group in the fourth quarter valued at about $26,000. True Wealth Design LLC purchased a new stake in American International Group in the third quarter worth about $29,000. BankPlus Trust Department bought a new position in American International Group during the 4th quarter worth about $36,000. Finally, Continuum Advisory LLC increased its position in American International Group by 60.7% during the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 207 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent research reports. Morgan Stanley increased their price objective 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. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. UBS Group reduced their price target on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group restated a “neutral” rating and set a $79.00 price objective (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

American International Group Trading Up 0.5 %

Shares of American International Group stock opened at $81.94 on Tuesday. The firm’s 50 day simple moving average is $75.54 and its two-hundred day simple moving average is $75.11. The firm has a market capitalization of $48.62 billion, a price-to-earnings ratio of -39.39, a PEG ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $83.77. 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 (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 the consensus estimate 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%. Analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced 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 dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

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 that occurred on Thursday, February 13th. The stock was purchased 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by insiders.

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.