Fiduciary Group LLC Reduces Stake in American International Group, Inc. (NYSE:AIG)

Fiduciary Group LLC decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 8.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,272 shares of the insurance provider’s stock after selling 400 shares during the period. Fiduciary Group LLC’s holdings in American International Group were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of American International Group in the 4th quarter valued at about $718,013,000. Balyasny Asset Management L.P. purchased a new stake in shares of American International Group in the 4th quarter valued at about $135,325,000. Wellington Management Group LLP raised its holdings in shares of American International Group by 7.2% in 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 acquiring an additional 1,791,964 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of American International Group by 2,134.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider’s stock valued at $103,885,000 after buying an additional 1,363,108 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of American International Group during the 4th quarter valued at about $95,074,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of AIG stock opened at $82.36 on Thursday. The firm has a market cap of $47.47 billion, a P/E ratio of -30.96, a P/E/G ratio of 0.93 and a beta of 0.63. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The business’s 50 day moving average price is $83.74 and its 200-day moving average price is $79.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same period last year, the company earned $1.25 EPS. On average, equities research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.45 per share. The ex-dividend date was Friday, June 13th. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.19%. American International Group’s payout ratio is currently -67.67%.

Insider Buying and Selling at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the sale, the executive vice president directly owned 21,400 shares in the company, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AIG shares. Jefferies Financial Group raised their price objective on American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 11th. Barclays raised their price objective on American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Evercore ISI raised their price objective on American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, BMO Capital Markets raised their price objective on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, March 13th. Nine equities research 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, American International Group has a consensus rating of “Moderate Buy” and an average target price of $88.12.

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.