American International Group, Inc. (NYSE:AIG) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its holdings in shares of American International Group, Inc. (NYSE:AIG) by 32.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,048 shares of the insurance provider’s stock after selling 87,588 shares during the period. State of Tennessee Department of Treasury’s holdings in American International Group were worth $13,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in shares of American International Group by 1.4% in the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock valued at $2,540,050,000 after purchasing an additional 482,724 shares during the last quarter. Wellington Management Group LLP increased its stake in American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of 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 buying an additional 461,912 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of American International Group by 14.0% during the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after buying an additional 1,284,354 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of American International Group in the fourth quarter valued at about $718,013,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American International Group news, Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $77.00 per share, for a total transaction 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. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AIG has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $91.00 target price (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. The Goldman Sachs Group lifted their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Morgan Stanley lifted their price target on American International Group from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, April 4th. Finally, HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.65.

American International Group Stock Up 2.9 %

Shares of NYSE AIG opened at $81.67 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $81.23 and a 200 day moving average of $77.05. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07. The stock has a market cap of $48.63 billion, a PE ratio of -39.26, a P/E/G ratio of 1.01 and a beta of 0.63.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 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%. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 17th. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. American International Group’s payout ratio is -76.92%.

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.