Geode Capital Management LLC Sells 106,101 Shares of American International Group, Inc. (NYSE:AIG)

Geode Capital Management LLC reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,216,832 shares of the insurance provider’s stock after selling 106,101 shares during the quarter. Geode Capital Management LLC owned about 2.12% of American International Group worth $959,261,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AIG. Wellington Management Group LLP grew its holdings in American International Group by 7.2% during the fourth 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 during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of American International Group by 3.4% in 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 buying an additional 461,912 shares during the period. Franklin Resources Inc. increased its position in shares of 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 valued at $760,528,000 after buying an additional 1,284,354 shares in the last quarter. Norges Bank acquired a new stake in American International Group during the 4th quarter worth $718,013,000. Finally, Bank of New York Mellon Corp lifted its holdings in American International Group by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after acquiring an additional 347,982 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American International Group

In other news, Director John G. Rice acquired 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on American International Group to $91.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI raised their target price on shares of American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a report on Tuesday. Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Wednesday, March 5th. Finally, UBS Group reduced their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.76.

American International Group Price Performance

Shares of NYSE AIG opened at $87.77 on Thursday. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The company has a market cap of $52.08 billion, a PE ratio of -42.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The business’s 50 day moving average price is $79.26 and its two-hundred day moving average price is $76.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last released its quarterly earnings data 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, analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.82%. American International Group’s dividend payout ratio (DPR) is presently -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.