Cullen Frost Bankers Inc. Has $448,000 Position in American International Group, Inc. (NYSE:AIG)

Cullen Frost Bankers Inc. reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,155 shares of the insurance provider’s stock after selling 1,755 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in American International Group were worth $448,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC increased its stake in shares of American International Group by 1.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 23,187 shares of the insurance provider’s stock worth $1,688,000 after acquiring an additional 284 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of American International Group by 35.9% in the fourth quarter. Proficio Capital Partners LLC now owns 9,481 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 2,503 shares during the last quarter. Atria Investments Inc increased its stake in shares of American International Group by 5.1% in the fourth quarter. Atria Investments Inc now owns 64,095 shares of the insurance provider’s stock worth $4,666,000 after acquiring an additional 3,109 shares during the last quarter. Assetmark Inc. increased its stake in shares of American International Group by 4.9% in the fourth quarter. Assetmark Inc. now owns 43,876 shares of the insurance provider’s stock worth $3,194,000 after acquiring an additional 2,057 shares during the last quarter. Finally, Keybank National Association OH increased its stake in shares of American International Group by 8.9% in the fourth quarter. Keybank National Association OH now owns 7,248 shares of the insurance provider’s stock worth $528,000 after acquiring an additional 590 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on AIG. UBS Group dropped their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.38.

American International Group Stock Up 0.4 %

Shares of AIG opened at $81.58 on Friday. The company has a 50-day simple moving average of $75.35 and a 200-day simple moving average of $75.06. The firm has a market capitalization of $48.40 billion, a P/E ratio of -39.22, 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 quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $83.77.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) 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%. On average, equities research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insider Buying and Selling

In other American International Group news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

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.