Pictet Asset Management Holding SA Sells 22,105 Shares of American International Group, Inc. (NYSE:AIG)

Pictet Asset Management Holding SA reduced its stake in American International Group, Inc. (NYSE:AIG) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 295,711 shares of the insurance provider’s stock after selling 22,105 shares during the period. Pictet Asset Management Holding SA’s holdings in American International Group were worth $21,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in American International Group in the fourth quarter valued at $25,000. Asset Planning Inc bought a new stake in shares of American International Group in the 4th quarter worth about $26,000. True Wealth Design LLC acquired a new stake in shares of American International Group during the 3rd quarter worth about $29,000. BankPlus Trust Department bought a new position in American International Group during the 4th quarter valued at about $36,000. Finally, Continuum Advisory LLC boosted its position in American International Group by 60.7% in the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after buying an additional 207 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of NYSE:AIG opened at $87.01 on Tuesday. The firm’s 50 day simple moving average is $78.77 and its 200 day simple moving average is $76.05. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $87.51. The company has a market capitalization of $51.63 billion, a price-to-earnings ratio of -41.83, 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 current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last posted 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, sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.84%. American International Group’s dividend payout ratio is presently -76.92%.

Insider Buying and Selling at American International Group

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 stock was acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AIG shares. Wells Fargo & Company increased their price target on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Morgan Stanley increased their price objective on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Company 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.