Commonwealth Equity Services LLC Sells 5,606 Shares of American International Group, Inc. (NYSE:AIG)

Commonwealth Equity Services LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 290,863 shares of the insurance provider’s stock after selling 5,606 shares during the quarter. Commonwealth Equity Services LLC’s holdings in American International Group were worth $21,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its position in shares of American International Group by 5.6% during the third quarter. CIBC Asset Management Inc now owns 97,455 shares of the insurance provider’s stock valued at $7,137,000 after buying an additional 5,179 shares during the period. Empowered Funds LLC grew its position in American International Group by 8.7% in the 3rd quarter. Empowered Funds LLC now owns 11,928 shares of the insurance provider’s stock valued at $873,000 after acquiring an additional 958 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in American International Group in the third quarter worth $494,000. Claro Advisors LLC bought a new stake in shares of American International Group during the third quarter worth $359,000. Finally, Caprock Group LLC boosted its stake in shares of American International Group by 5.8% during the third quarter. Caprock Group LLC now owns 34,902 shares of the insurance provider’s stock valued at $2,556,000 after purchasing an additional 1,921 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other news, Director John G. Rice acquired 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost 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 in the company, valued at $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. Insiders own 0.61% of the company’s stock.

American International Group Stock Up 2.2 %

American International Group stock opened at $83.37 on Monday. The business has a fifty day moving average price of $76.25 and a 200-day moving average price of $75.30. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $83.77. The stock has a market capitalization of $49.47 billion, a price-to-earnings ratio of -40.08, a PEG 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 issued its quarterly earnings results 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%. Equities research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. American International Group’s dividend payout ratio is currently -76.92%.

Wall Street Analyst Weigh In

Several research analysts recently commented on AIG shares. Keefe, Bruyette & Woods raised their price target on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, March 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Morgan Stanley increased 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. Finally, Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.31.

About American International Group

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.