Cary Street Partners Financial LLC Invests $401,000 in American International Group, Inc. (NYSE:AIG)

Cary Street Partners Financial LLC bought a new stake in American International Group, Inc. (NYSE:AIG) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,502 shares of the insurance provider’s stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Catalina Capital Group LLC boosted its stake in American International Group by 5.1% in the 4th quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock valued at $222,000 after buying an additional 148 shares in the last quarter. Pitcairn Co. lifted its holdings in shares of American International Group by 2.2% during the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider’s stock valued at $536,000 after acquiring an additional 158 shares during the period. Hilltop National Bank grew its holdings in shares of American International Group by 4.7% in the 4th quarter. Hilltop National Bank now owns 3,888 shares of the insurance provider’s stock worth $283,000 after purchasing an additional 175 shares during the last quarter. Cidel Asset Management Inc. increased its position in shares of American International Group by 2.1% during the 4th quarter. Cidel Asset Management Inc. now owns 8,711 shares of the insurance provider’s stock worth $634,000 after purchasing an additional 179 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in American International Group by 11.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,745 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 179 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on AIG shares. Barclays raised their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Wells Fargo & Company boosted their price objective on American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Evercore ISI raised their target price on American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. 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 research report on Tuesday, February 18th. Finally, Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, American International Group currently has a consensus rating of “Moderate Buy” and an average target price of $87.88.

American International Group Trading Up 0.7 %

NYSE:AIG opened at $82.39 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The firm has a market capitalization of $47.48 billion, a price-to-earnings ratio of -39.61, a PEG ratio of 1.01 and a beta of 0.69. The business’s 50-day moving average price is $82.30 and its two-hundred day moving average price is $77.51.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same period last year, the company posted $1.25 EPS. On average, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio is currently -67.67%.

Insider Buying and Selling

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the transaction, the executive vice president now owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. The trade was a 68.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John G. Rice acquired 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, with a total value of $770,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company insiders.

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.