Glenmede Trust Co. NA Has $3.88 Million Holdings in American International Group, Inc. (NYSE:AIG)

Glenmede Trust Co. NA decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 5.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 52,937 shares of the insurance provider’s stock after selling 3,315 shares during the period. Glenmede Trust Co. NA’s holdings in American International Group were worth $3,877,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AIG. Cetera Investment Advisers grew its holdings in American International Group by 348.6% during the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management raised its holdings in American International Group by 2,208.3% in the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares during the period. DekaBank Deutsche Girozentrale lifted its position in American International Group by 8.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after acquiring an additional 10,581 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in American International Group during the third quarter valued at about $494,000. Finally, Victory Capital Management Inc. grew its position in shares of American International Group by 6.1% in the second quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock valued at $69,748,000 after purchasing an additional 54,419 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

American International Group Price Performance

American International Group stock opened at $76.88 on Friday. The business has a 50 day simple moving average of $75.82 and a 200 day simple moving average of $75.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $47.96 billion, a PE ratio of -22.68, a price-to-earnings-growth ratio of 7.65 and a beta of 1.05. American International Group, Inc. has a one year low of $64.81 and a one year high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the company earned $1.61 EPS. On average, sell-side analysts forecast that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is -47.20%.

Wall Street Analyst Weigh In

AIG has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays began coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective on the stock. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Bank of America raised their price target on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and an average price target of $84.80.

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.