Byrne Asset Management LLC Decreases Position in American International Group, Inc. (NYSE:AIG)

Byrne Asset Management LLC lessened its holdings in American International Group, Inc. (NYSE:AIG) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,928 shares of the insurance provider’s stock after selling 470 shares during the quarter. American International Group accounts for 1.2% of Byrne Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Byrne Asset Management LLC’s holdings in American International Group were worth $1,646,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AIG. Jones Financial Companies Lllp boosted its stake in shares of American International Group by 54.3% during the 4th quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 4,468 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of American International Group by 94.4% in the fourth quarter. Principal Securities Inc. now owns 11,374 shares of the insurance provider’s stock worth $828,000 after buying an additional 5,522 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of American International Group by 34.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 11,161 shares of the insurance provider’s stock valued at $813,000 after purchasing an additional 2,874 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of American International Group by 13.3% during the fourth quarter. Empowered Funds LLC now owns 13,513 shares of the insurance provider’s stock valued at $984,000 after purchasing an additional 1,585 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of American International Group by 42.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,465,871 shares of the insurance provider’s stock valued at $106,715,000 after purchasing an additional 437,339 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. Evercore ISI upped their target price on shares of American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. The Goldman Sachs Group increased their price objective on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. BMO Capital Markets increased their price objective on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, March 13th. Finally, 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. 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, American International Group has an average rating of “Moderate Buy” and a consensus target price of $88.12.

American International Group Stock Performance

AIG opened at $84.52 on Friday. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The stock has a market capitalization of $48.71 billion, a price-to-earnings ratio of -40.63, a PEG ratio of 1.01 and a beta of 0.64. The company has a fifty day moving average of $82.83 and a 200 day moving average of $78.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.89 billion. During the same period last year, the company posted $1.25 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.45 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. American International Group’s dividend payout ratio (DPR) is presently -67.67%.

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.