New York Life Investment Management LLC Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

New York Life Investment Management LLC reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 12.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,208 shares of the insurance provider’s stock after selling 11,859 shares during the period. New York Life Investment Management LLC’s holdings in American International Group were worth $6,130,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AIG. Wealth Enhancement Advisory Services LLC raised its holdings in American International Group by 29.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 40,646 shares of the insurance provider’s stock worth $2,977,000 after purchasing an additional 9,175 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in American International Group during the third quarter worth about $265,000. Fidelis Capital Partners LLC purchased a new position in American International Group during the third quarter worth about $227,000. First Trust Direct Indexing L.P. grew its position in American International Group by 7.1% during the third quarter. First Trust Direct Indexing L.P. now owns 24,419 shares of the insurance provider’s stock worth $1,788,000 after buying an additional 1,621 shares during the period. Finally, US Bancorp DE grew its position in American International Group by 0.5% during the third quarter. US Bancorp DE now owns 186,142 shares of the insurance provider’s stock worth $13,631,000 after buying an additional 886 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of AIG opened at $82.88 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $49.17 billion, a price-to-earnings ratio of -39.84, a PEG ratio of 1.01 and a beta of 1.05. The company’s 50 day simple moving average is $74.51 and its 200 day simple moving average is $74.77. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $83.00.

American International Group (NYSE:AIG) last announced its quarterly earnings data 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 negative net margin of 4.25% and a positive return on equity of 8.01%. On average, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s payout ratio is -76.92%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $79.00 target price (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Morgan Stanley upped their target price on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Wells Fargo & Company upped their target price on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.94.

Insider Activity at American International Group

In related news, Director John G. Rice purchased 10,000 shares of the business’s 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 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 SEC, which is available at this hyperlink. 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.