Ayrshire Capital Management LLC Lowers Holdings in American International Group, Inc. (NYSE:AIG)

Ayrshire Capital Management LLC decreased its position in American International Group, Inc. (NYSE:AIG) by 22.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,324 shares of the insurance provider’s stock after selling 26,825 shares during the period. American International Group comprises approximately 3.9% of Ayrshire Capital Management LLC’s holdings, making the stock its 9th largest holding. Ayrshire Capital Management LLC’s holdings in American International Group were worth $8,027,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors raised its stake in shares of 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 purchasing an additional 482,724 shares in the last quarter. Wellington Management Group LLP increased its holdings in American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after buying an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of American International Group by 3.4% in the 4th 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 buying an additional 461,912 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after buying an additional 1,284,354 shares in the last quarter. Finally, Norges Bank bought a new position in shares of American International Group during the 4th quarter worth about $718,013,000. Institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The shares were 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 directly owns 21,400 shares in the company, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

American International Group Stock Down 2.5%

Shares of AIG opened at $85.19 on Tuesday. The business’s fifty day moving average price is $82.45 and its two-hundred day moving average price is $78.66. The firm has a market capitalization of $49.10 billion, a price-to-earnings ratio of -40.96, a PEG ratio of 1.01 and a beta of 0.64. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $88.07. 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 (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $1.25 earnings per share. On average, analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.45 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, June 13th. American International Group’s dividend payout ratio is currently -67.67%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AIG shares. Jefferies Financial Group upped their target price on shares of American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods increased their target price on American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Wells Fargo & Company boosted their price target on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. 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 report on Tuesday, April 1st. Finally, Evercore ISI lifted their price objective on American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.12.

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.