American International Group, Inc. (NYSE:AIG) Holdings Cut by TT Capital Management LLC

TT Capital Management LLC decreased its stake in American International Group, Inc. (NYSE:AIG) by 90.8% in the first quarter, Holdings Channel reports. The institutional investor owned 2,801 shares of the insurance provider’s stock after selling 27,485 shares during the quarter. TT Capital Management LLC’s holdings in American International Group were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its position in American International Group by 1.4% in the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after buying an additional 482,724 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of American International Group by 7.2% during the 4th 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 in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of American International Group by 3.4% during the 4th 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 purchasing an additional 461,912 shares in the last quarter. Franklin Resources Inc. raised 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 acquiring an additional 1,284,354 shares during the period. Finally, Norges Bank bought a new position in American International Group in the 4th quarter worth $718,013,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.9%

American International Group stock opened at $85.02 on Friday. The stock has a market capitalization of $49.00 billion, a PE ratio of -31.96, a price-to-earnings-growth ratio of 0.92 and a beta of 0.64. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $83.15 and a 200-day moving average of $79.17.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.89 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, equities research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.45 dividend. The ex-dividend date is Friday, June 13th. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. American International Group’s dividend payout ratio is presently -67.67%.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

AIG has been the topic of several recent analyst reports. HSBC upgraded shares of 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. Jefferies Financial Group raised their price target on shares of American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods raised their price target on shares of American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. 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 research report on Tuesday, April 1st. Finally, BMO Capital Markets lifted their target price on shares of American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.12.

American International Group Company 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.