Peapack Gladstone Financial Corp Sells 1,934 Shares of American International Group, Inc. (NYSE:AIG)

Peapack Gladstone Financial Corp decreased its position in American International Group, Inc. (NYSE:AIG) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,968 shares of the insurance provider’s stock after selling 1,934 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in American International Group were worth $2,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Artemis Investment Management LLP grew its position in American International Group by 115.9% in the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after purchasing an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its holdings 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 acquiring an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of American International Group by 54.3% during the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock valued at $924,000 after acquiring an additional 4,468 shares during the last quarter. Merit Financial Group LLC bought a new stake in American International Group during the fourth quarter worth $1,260,000. Finally, Williams & Novak LLC purchased a new position in American International Group in the fourth quarter worth $279,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIG. Keefe, Bruyette & Woods raised their target price on American International Group from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Wednesday, March 5th. Morgan Stanley lifted their price target on shares of American International Group from $76.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Wells Fargo & Company increased their price objective on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.12.

Insider Activity at American International Group

In related news, Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

American International Group Stock Down 1.6 %

AIG stock opened at $77.68 on Tuesday. The stock has a 50-day simple moving average of $79.63 and a two-hundred day simple moving average of $76.41. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The firm has a market capitalization of $46.09 billion, a PE ratio of -37.35, a PEG ratio of 1.01 and a beta of 0.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

American International Group Company 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.