American International Group, Inc. (NYSE:AIG) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,673 shares of the insurance provider’s stock after selling 1,307 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in American International Group were worth $1,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of American International Group by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. boosted its position in American International Group by 3.4% in the fourth 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 during the last quarter. Franklin Resources Inc. increased its holdings in American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after buying an additional 1,284,354 shares during the period. Norges Bank purchased a new position in American International Group during the 4th quarter worth approximately $718,013,000. Finally, Bank of New York Mellon Corp lifted its stake in 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 acquiring an additional 347,982 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity at American International Group

In related news, Director John G. Rice acquired 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

American International Group Price Performance

NYSE:AIG opened at $78.83 on Friday. The firm has a market cap of $46.77 billion, a P/E ratio of -37.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The stock has a 50 day moving average of $79.60 and a two-hundred day moving average of $76.36. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. American International Group’s payout ratio is presently -76.92%.

Analyst Ratings Changes

Several brokerages recently issued reports on AIG. BMO Capital Markets raised their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday, March 13th. Keefe, Bruyette & Woods boosted their price objective on American International Group from $90.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Finally, The Goldman Sachs Group lifted their target price on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.12.

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.