Cetera Investment Advisers Has $3.87 Million Stake in American International Group, Inc. (NYSE:AIG)

Cetera Investment Advisers trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 17.2% in the fourth quarter, Holdings Channel reports. The fund owned 53,209 shares of the insurance provider’s stock after selling 11,050 shares during the period. Cetera Investment Advisers’ holdings in American International Group were worth $3,874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Research Global Investors grew 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 valued at $2,540,050,000 after acquiring an additional 482,724 shares during the period. Wellington Management Group LLP grew 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 valued at $1,951,427,000 after acquiring an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. grew its stake in American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after acquiring an additional 461,912 shares during the period. Franklin Resources Inc. lifted its holdings in shares of American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after purchasing an additional 1,284,354 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of American International Group in the fourth quarter valued at about $718,013,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIG. BMO Capital Markets boosted their price target on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, March 13th. Keefe, Bruyette & Woods boosted their price target on American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Morgan Stanley boosted their price target on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. Finally, Jefferies Financial Group boosted their price target on American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.88.

American International Group Stock Performance

AIG opened at $83.17 on Friday. The business’s 50-day simple moving average is $82.42 and its 200 day simple moving average is $77.67. The firm has a market capitalization of $47.93 billion, a PE ratio of -39.99, a PEG ratio of 1.01 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07.

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

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, June 13th. This is an increase from American International Group’s previous quarterly dividend of $0.40. American International Group’s payout ratio is -67.67%.

Insiders Place Their Bets

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

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.