United Services Automobile Association Trims Stock Holdings in American International Group, Inc. (NYSE:AIG)

United Services Automobile Association reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,897 shares of the insurance provider’s stock after selling 663 shares during the period. United Services Automobile Association’s holdings in American International Group were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AIG. Wellington Management Group LLP increased its stake in shares of American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after purchasing an additional 6,119,996 shares in the last quarter. Prana Capital Management LP boosted its holdings in American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after buying an additional 1,391,859 shares during the period. Raymond James Financial Inc. purchased a new stake in American International Group in the 4th quarter worth $95,074,000. Swedbank AB raised its holdings in American International Group by 70.6% during the fourth quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock valued at $154,896,000 after acquiring an additional 880,625 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in shares of American International Group by 9,790.9% in the fourth quarter. Proficio Capital Partners LLC now owns 690,185 shares of the insurance provider’s stock valued at $50,245,000 after acquiring an additional 683,207 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AIG. BMO Capital Markets increased their target price on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. Morgan Stanley increased their price objective on shares of American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $79.00 target price (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. 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. Finally, HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. Eight equities research 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’s stock. Based on data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and an average target price of $84.31.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by insiders.

American International Group Stock Performance

NYSE AIG opened at $83.03 on Monday. The business’s 50 day moving average price is $77.45 and its 200-day moving average price is $75.55. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $84.99. The company has a market cap of $49.27 billion, a P/E ratio of -39.92, 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 (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

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.