Wealth Alliance Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Wealth Alliance decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 12,491 shares of the insurance provider’s stock after selling 175 shares during the period. Wealth Alliance’s holdings in American International Group were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AIG. Norges Bank purchased a new position in shares of American International Group during the fourth quarter worth about $736,063,000. Morgan Stanley grew its holdings in shares of American International Group by 55.1% during the fourth quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock worth $665,247,000 after purchasing an additional 3,738,346 shares in the last quarter. Sessa Capital IM L.P. purchased a new stake in American International Group in the first quarter worth approximately $73,040,000. Deutsche Bank AG boosted its stake in American International Group by 58.1% in the first quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock worth $185,677,000 after buying an additional 1,354,652 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in American International Group in the first quarter worth approximately $57,511,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of American International Group stock opened at $73.82 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $50.27 billion, a PE ratio of 14.79, a P/E/G ratio of 1.03 and a beta of 1.03. The business has a 50 day moving average of $73.96 and a 200 day moving average of $68.27. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $78.95.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. As a group, equities research analysts forecast that American International Group, Inc. will post 7.07 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.95%. American International Group’s dividend payout ratio (DPR) is 28.86%.

Insiders Place Their Bets

In other news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Inglis bought 659 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AIG has been the subject of several research reports. Morgan Stanley upped their target price on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday. Royal Bank of Canada upped their target price on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. HSBC assumed coverage on American International Group in a research note on Thursday, December 28th. They issued a “buy” rating and a $86.00 target price for the company. JPMorgan Chase & Co. increased their price objective on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods increased their price objective on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.06.

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.