Korea Investment CORP Reduces Stake in American International Group, Inc. (NYSE:AIG)

Korea Investment CORP trimmed its stake in American International Group, Inc. (NYSE:AIG) by 15.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 650,161 shares of the insurance provider’s stock after selling 120,256 shares during the period. Korea Investment CORP owned approximately 0.10% of American International Group worth $47,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after purchasing an additional 461,912 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of American International Group by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock valued at $677,825,000 after buying an additional 347,982 shares during the period. Franklin Resources Inc. grew its stake in shares of American International Group by 5.3% during the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock valued at $713,272,000 after buying an additional 457,821 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of American International Group by 0.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock worth $543,091,000 after buying an additional 59,180 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity

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. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of NYSE AIG opened at $84.60 on Friday. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $85.11. The company has a market cap of $50.19 billion, a PE ratio of -40.67, 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 quick ratio of 0.67 and a current ratio of 0.67. The business has a 50-day simple moving average of $78.36 and a two-hundred day simple moving average of $75.83.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate 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, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.89%. American International Group’s payout ratio is presently -76.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AIG shares. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of 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. UBS Group lowered their price objective on shares of 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. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, Morgan Stanley boosted their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.31.

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.