Tobam Has $79,000 Position in American International Group, Inc. (NYSE:AIG)

Tobam lowered its holdings in American International Group, Inc. (NYSE:AIG) by 35.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 913 shares of the insurance provider’s stock after selling 507 shares during the quarter. Tobam’s holdings in American International Group were worth $79,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Research Global Investors boosted its stake in American International Group by 1.4% in the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after purchasing an additional 482,724 shares in the last quarter. Wellington Management Group LLP boosted its stake in American International Group by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after purchasing an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of American International Group by 14.0% during the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after acquiring an additional 1,284,354 shares during the period. Finally, Norges Bank acquired a new position in shares of American International Group during the fourth quarter valued at $718,013,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president now owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

AIG has been the topic of several research reports. The Goldman Sachs Group upped their price target on American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. UBS Group cut their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods increased their target price on American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $91.00 target price (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and a consensus price target of $88.12.

American International Group Stock Down 1.5%

Shares of American International Group stock opened at $84.52 on Friday. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The business has a 50-day moving average of $82.83 and a two-hundred day moving average of $78.87. The company has a market capitalization of $48.71 billion, a P/E ratio of -40.63, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same period last year, the company earned $1.25 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The company also recently announced 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio (DPR) is currently -67.67%.

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.