Summit Global Investments Decreases Position in American International Group, Inc. (NYSE:AIG)

Summit Global Investments decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 56.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,701 shares of the insurance provider’s stock after selling 27,143 shares during the quarter. Summit Global Investments’ holdings in American International Group were worth $1,507,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AIG. Wellington Management Group LLP lifted its stake in American International Group by 32.4% during 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 during the last quarter. Prana Capital Management LP lifted its stake in American International Group by 280.5% during the third quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after purchasing an additional 1,391,859 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in American International Group during the fourth quarter worth approximately $95,074,000. Swedbank AB increased its position 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 worth $154,896,000 after buying an additional 880,625 shares during the period. Finally, Proficio Capital Partners LLC increased its position in American International Group by 9,790.9% during the fourth quarter. Proficio Capital Partners LLC now owns 690,185 shares of the insurance provider’s stock worth $50,245,000 after buying an additional 683,207 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the topic of several research analyst reports. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. UBS Group cut their price target on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 price target (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on 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, BMO Capital Markets lifted their price target 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. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

Insiders Place Their Bets

In related news, Director John G. Rice acquired 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, for a total transaction 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 $770,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

American International Group Stock Down 0.8 %

American International Group stock opened at $83.03 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $84.99. The company has a market cap of $49.27 billion, a PE ratio of -39.92, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The stock’s 50 day moving average price is $77.45 and its 200 day moving average price is $75.56.

American International Group (NYSE:AIG) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.93%. American International Group’s payout ratio is -76.92%.

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.