Summit Global Investments Trims Stock Holdings in American International Group, Inc. (NYSE:AIG)

Summit Global Investments lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 56.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,701 shares of the insurance provider’s stock after selling 27,143 shares during the period. Summit Global Investments’ holdings in American International Group were worth $1,507,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new position in American International Group during the 4th quarter worth approximately $25,000. Asset Planning Inc acquired a new stake in shares of American International Group during the 4th quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in shares of American International Group during the 3rd quarter worth approximately $29,000. BankPlus Trust Department acquired a new stake in shares of American International Group during the 4th quarter worth approximately $36,000. Finally, Continuum Advisory LLC raised its position in shares of American International Group by 60.7% during the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares during the period. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock opened at $83.03 on Friday. The stock’s fifty day simple moving average is $77.45 and its 200-day simple moving average is $75.56. 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 $84.99. The company has a market capitalization of $49.27 billion, a price-to-earnings ratio of -39.92, a P/E/G ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.93%. American International Group’s dividend payout ratio is currently -76.92%.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of research reports. UBS Group dropped their price target on 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Morgan Stanley increased their price target on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods increased their price target on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.31.

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.