Geode Capital Management LLC Sells 326,578 Shares of American International Group, Inc. (NYSE:AIG)

Geode Capital Management LLC reduced its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,322,933 shares of the insurance provider's stock after selling 326,578 shares during the quarter. Geode Capital Management LLC owned approximately 2.14% of American International Group worth $972,655,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc bought a new stake in shares of American International Group in the 3rd quarter valued at approximately $26,000. Y.D. More Investments Ltd acquired a new stake in shares of American International Group in the 2nd quarter valued at $27,000. True Wealth Design LLC bought a new stake in American International Group in the third quarter worth $29,000. Continuum Advisory LLC raised its holdings in American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider's stock valued at $42,000 after buying an additional 207 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of American International Group during the 3rd quarter worth about $46,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company's stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.

American International Group Trading Down 1.6 %

Shares of AIG stock traded down $1.20 during trading hours on Thursday, reaching $72.44. The company had a trading volume of 4,692,604 shares, compared to its average volume of 4,107,565. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a 1-year low of $65.69 and a 1-year high of $80.83. The company has a 50 day moving average of $76.09 and a 200 day moving average of $75.27. The firm has a market cap of $45.19 billion, a price-to-earnings ratio of -21.72, a P/E/G ratio of 7.49 and a beta of 1.05.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analysts' expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the previous year, the company earned $1.61 earnings per share. On average, equities research analysts anticipate that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, December 16th. American International Group's dividend payout ratio (DPR) is presently -47.20%.

Wall Street Analyst Weigh In

Several brokerages have commented on AIG. UBS Group increased their price target on American International Group from $84.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Jefferies Financial Group boosted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. BMO Capital Markets lowered American International Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Evercore ISI decreased their target price on American International Group from $79.00 to $78.00 and set an "in-line" rating for the company in a research note on Wednesday, October 9th. Finally, StockNews.com raised American International Group from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.80.

About American International Group

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.