New York Life Investment Management LLC Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

New York Life Investment Management LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,208 shares of the insurance provider’s stock after selling 11,859 shares during the period. New York Life Investment Management LLC’s holdings in American International Group were worth $6,130,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Asset Planning Inc purchased a new position in shares of American International Group in the 4th quarter valued at $26,000. True Wealth Design LLC purchased a new position in shares of American International Group in the 3rd quarter valued at $29,000. BankPlus Trust Department purchased a new position in shares of American International Group in the 4th quarter valued at $36,000. Whipplewood Advisors LLC purchased a new position in shares of American International Group in the 4th quarter valued at $40,000. Finally, Fortitude Family Office LLC raised its stake in shares of American International Group by 58.3% in the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other news, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AIG shares. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley lifted their price target on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.94.

American International Group Trading Up 4.0 %

Shares of AIG opened at $82.88 on Friday. The company has a market capitalization of $49.17 billion, a P/E ratio of -39.84, a P/E/G ratio of 1.01 and a beta of 1.05. American International Group, Inc. has a one year low of $69.00 and a one year high of $83.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50-day moving average price of $74.51 and a 200 day moving average price of $74.77.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (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%. Sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

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