Elo Mutual Pension Insurance Co Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Elo Mutual Pension Insurance Co cut its stake in American International Group, Inc. (NYSE:AIG) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,372 shares of the insurance provider’s stock after selling 5,585 shares during the period. Elo Mutual Pension Insurance Co’s holdings in American International Group were worth $4,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingsview Wealth Management LLC grew its position in shares of American International Group by 6.2% during the third quarter. Kingsview Wealth Management LLC now owns 7,209 shares of the insurance provider’s stock worth $528,000 after buying an additional 423 shares in the last quarter. Fisher Asset Management LLC purchased a new position in American International Group in the third quarter worth approximately $291,000. Dynamic Technology Lab Private Ltd acquired a new position in American International Group during the 3rd quarter worth approximately $599,000. Independent Advisor Alliance grew its holdings in American International Group by 1.6% during the 3rd quarter. Independent Advisor Alliance now owns 10,393 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 161 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of American International Group by 2.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 792,181 shares of the insurance provider’s stock valued at $58,011,000 after purchasing an additional 20,545 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIG has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. UBS Group lowered their price objective 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. BMO Capital Markets raised their target price on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. Morgan Stanley boosted their target price on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company increased their price target on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Stock Up 0.5 %

AIG opened at $84.60 on Friday. 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, Inc. has a 12 month low of $69.00 and a 12 month high of $85.11. The stock has a market capitalization of $50.19 billion, a P/E ratio of -40.67, a P/E/G ratio of 1.01 and a beta of 0.98. The business has a 50 day simple moving average of $78.36 and a 200-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 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed 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 yield of 1.89%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio is currently -76.92%.

Insiders Place Their Bets

In other news, Director John G. Rice acquired 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now 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 SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.