Intech Investment Management LLC Lowers Position in American International Group, Inc. (NYSE:AIG)

Intech Investment Management LLC lessened its stake in American International Group, Inc. (NYSE:AIG) by 38.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,234 shares of the insurance provider’s stock after selling 36,297 shares during the period. Intech Investment Management LLC’s holdings in American International Group were worth $4,312,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AIG. Wellington Management Group LLP lifted its position in shares of American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after buying an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after buying an additional 461,912 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of American International Group by 3.9% during the 4th 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 in the last quarter. Franklin Resources Inc. lifted its position in shares of American International Group by 5.3% during the 3rd 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 in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of American International Group by 0.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after buying an additional 59,180 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

In other news, Director John G. Rice bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AIG shares. JPMorgan Chase & Co. decreased their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Wednesday, March 5th. Morgan Stanley raised their price objective 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. Hsbc Global Res upgraded 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. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Up 0.1 %

Shares of NYSE:AIG opened at $84.01 on Wednesday. The business has a 50-day moving average price of $76.71 and a 200 day moving average price of $75.41. 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 market capitalization of $49.85 billion, a price-to-earnings ratio of -40.39, a PEG ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $84.99.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) 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%. Sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, March 17th. 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.