Amalgamated Bank Sells 6,020 Shares of American International Group, Inc. (NYSE:AIG)

Amalgamated Bank trimmed its stake in shares of American International Group, Inc. (NYSE:AIG) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,857 shares of the insurance provider’s stock after selling 6,020 shares during the quarter. Amalgamated Bank’s holdings in American International Group were worth $8,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new stake in shares of American International Group during the 3rd quarter worth about $494,000. Artemis Investment Management LLP boosted its holdings in shares of American International Group by 115.9% during the fourth quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after acquiring an additional 147,235 shares during the period. Beacon Investment Advisory Services Inc. grew its position in shares of American International Group by 5.2% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after purchasing an additional 3,490 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of American International Group in the fourth quarter valued at approximately $1,260,000. Finally, Williams & Novak LLC bought a new position in shares of American International Group during the fourth quarter worth approximately $279,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American International Group

In related news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AIG. Keefe, Bruyette & Woods boosted their price target on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Morgan Stanley boosted their target price on shares of American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Wells Fargo & Company raised their price target 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research note on Wednesday, November 6th. Finally, UBS Group decreased their target price on shares of 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. 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.com, the company has a consensus rating of “Hold” and a consensus target price of $83.94.

American International Group Stock Up 0.6 %

NYSE AIG opened at $79.00 on Wednesday. The business has a fifty day moving average price of $73.97 and a two-hundred day moving average price of $74.63. The stock has a market capitalization of $46.88 billion, a PE ratio of -37.98, a PEG ratio of 1.01 and a beta of 1.05. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $80.83. 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 (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate 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%. Equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. American International Group’s payout ratio is currently -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.