USS Investment Management Ltd Sells 15,317 Shares of American International Group, Inc. (NYSE:AIG)

by · The Cerbat Gem

USS Investment Management Ltd cut its position in American International Group, Inc. (NYSE:AIG – Free Report) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,678 shares of the insurance provider’s stock after selling 15,317 shares during the period. USS Investment Management Ltd’s holdings in American International Group were worth $6,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Investment Advisory Services Inc. increased its stake in American International Group by 5.2% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock worth $5,155,000 after buying an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of American International Group by 54.3% in the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after acquiring an additional 4,468 shares during the period. Williams & Novak LLC bought a new stake in American International Group during the 4th quarter valued at approximately $279,000. Swedbank AB lifted its holdings in American International Group by 70.6% in the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock worth $154,896,000 after purchasing an additional 880,625 shares in the last quarter. Finally, Merrion Investment Management Co LLC bought a new position in American International Group in the 4th quarter worth approximately $874,000. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Christopher Flatt sold 46,182 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares in the company, valued at approximately $1,781,764. This represents a 68.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. UBS Group reduced their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group boosted their target price on American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Nine equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.12.

View Our Latest Research Report on American International Group

American International Group Trading Down 1.7%

Shares of AIG stock opened at $82.65 on Thursday. The company has a market cap of $47.63 billion, a PE ratio of -39.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.69. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The stock’s 50 day simple moving average is $82.59 and its two-hundred day simple moving average is $77.88. 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 – Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. During the same quarter in the prior year, the firm posted $1.25 EPS. Research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.45 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. This is an increase from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio is currently -67.67%.

About American International Group

(Free Report)

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.

Further Reading

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