Cary Street Partners Investment Advisory LLC Increases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Cary Street Partners Investment Advisory LLC increased its stake in American International Group, Inc. (NYSE:AIG) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,553 shares of the insurance provider’s stock after buying an additional 157 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in American International Group were worth $1,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of American International Group by 3.0% during the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after purchasing an additional 503,547 shares during the period. FMR LLC boosted its holdings in American International Group by 5.0% during the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after acquiring an additional 604,901 shares during the period. Bank of New York Mellon Corp increased its stake in American International Group by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 11,131,560 shares of the insurance provider’s stock worth $674,573,000 after purchasing an additional 408,335 shares during the period. Northern Trust Corp boosted its stake in shares of American International Group by 1.8% during the third quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after purchasing an additional 133,828 shares during the period. Finally, LSV Asset Management increased its stake in American International Group by 13.2% in the 3rd quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock worth $333,111,000 after buying an additional 639,079 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

American International Group stock traded down $0.32 during midday trading on Tuesday, hitting $75.42. 1,281,386 shares of the company were exchanged, compared to its average volume of 3,905,660. American International Group, Inc. has a fifty-two week low of $48.95 and a fifty-two week high of $78.95. The firm has a market capitalization of $51.36 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. The business has a fifty day simple moving average of $74.81 and a two-hundred day simple moving average of $69.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $1.36 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, March 13th. American International Group’s payout ratio is 28.86%.

Wall Street Analyst Weigh In

AIG has been the topic of several recent research reports. BMO Capital Markets dropped their target price on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Citigroup upped their target price on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. TD Cowen began coverage on American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, UBS Group upped their price target on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.38.

Insider Buying and Selling

In related news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the transaction, the director now directly owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

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.