Quest Partners LLC Sells 1,983 Shares of American International Group, Inc. (NYSE:AIG)

Quest Partners LLC cut its holdings in American International Group, Inc. (NYSE:AIG) by 12.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,092 shares of the insurance provider’s stock after selling 1,983 shares during the period. Quest Partners LLC’s holdings in American International Group were worth $1,032,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management raised its stake in shares of American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 9,805 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of American International Group by 64.3% during the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after acquiring an additional 11,149 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of American International Group by 8.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after acquiring an additional 10,581 shares during the last quarter. Finally, Ceeto Capital Group LLC bought a new position in shares of American International Group during the first quarter valued at about $625,000. 90.60% of the stock is owned by institutional investors.

American International Group Trading Down 0.8 %

NYSE:AIG opened at $74.66 on Thursday. The company’s 50 day moving average price is $75.38 and its 200-day moving average price is $75.64. American International Group, Inc. has a 52 week low of $64.47 and a 52 week high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock has a market cap of $46.57 billion, a price-to-earnings ratio of -22.02, a PEG ratio of 7.50 and a beta of 1.05.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate 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 prior year, the firm earned $1.61 earnings per share. On average, equities research analysts forecast that American International Group, Inc. will post 5.13 earnings per share 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. Investors of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. UBS Group boosted their price target on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Evercore ISI reduced their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.13.

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.