American International Group, Inc. (NYSE:AIG) Shares Sold by State Street Corp

State Street Corp lowered its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 2.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,358,514 shares of the insurance provider's stock after selling 793,685 shares during the quarter. State Street Corp owned about 4.55% of American International Group worth $2,076,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Stifel Financial Corp increased its stake in American International Group by 8.9% in the third quarter. Stifel Financial Corp now owns 654,642 shares of the insurance provider's stock valued at $47,940,000 after purchasing an additional 53,776 shares during the last quarter. Quantinno Capital Management LP lifted its position in American International Group by 11.0% in the third quarter. Quantinno Capital Management LP now owns 86,888 shares of the insurance provider's stock valued at $6,363,000 after acquiring an additional 8,588 shares during the last quarter. Redwood Investment Management LLC boosted its stake in American International Group by 4.0% in the third quarter. Redwood Investment Management LLC now owns 19,531 shares of the insurance provider's stock valued at $1,432,000 after acquiring an additional 748 shares in the last quarter. Prana Capital Management LP grew its holdings in shares of 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. Finally, New Vernon Investment Management LLC lifted its holdings in shares of American International Group by 92.5% in the 3rd quarter. New Vernon Investment Management LLC now owns 87,312 shares of the insurance provider's stock valued at $6,394,000 after purchasing an additional 41,946 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AIG shares. 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. UBS Group raised 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. Bank of America upped their price objective on American International Group from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. 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. Finally, StockNews.com raised shares of American International Group from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.80.

American International Group Trading Down 1.1 %

NYSE AIG traded down $0.86 during trading hours on Friday, hitting $75.28. 1,241,059 shares of the company's stock were exchanged, compared to its average volume of 4,085,331. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $46.96 billion, a P/E ratio of -22.46, a price-to-earnings-growth ratio of 7.45 and a beta of 1.05. The business's 50 day moving average is $76.00 and its 200-day moving average is $75.41. American International Group, Inc. has a 12-month low of $64.81 and a 12-month high of $80.83.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The business had revenue of $6.75 billion for the quarter, compared to analysts' expectations of $6.62 billion. During the same period last year, the company earned $1.61 earnings per share. As a group, analysts anticipate that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. American International Group's dividend payout ratio is presently -47.20%.

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.