Park Avenue Securities LLC Sells 521 Shares of American International Group, Inc. (NYSE:AIG)

Park Avenue Securities LLC trimmed its position in American International Group, Inc. (NYSE:AIG) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,054 shares of the insurance provider’s stock after selling 521 shares during the period. Park Avenue Securities LLC’s holdings in American International Group were worth $1,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in American International Group by 54.3% during the 4th quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 4,468 shares in the last quarter. Principal Securities Inc. increased its holdings in American International Group by 94.4% during the 4th quarter. Principal Securities Inc. now owns 11,374 shares of the insurance provider’s stock worth $828,000 after purchasing an additional 5,522 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of American International Group by 34.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,161 shares of the insurance provider’s stock worth $813,000 after buying an additional 2,874 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of American International Group by 13.3% in the 4th quarter. Empowered Funds LLC now owns 13,513 shares of the insurance provider’s stock worth $984,000 after buying an additional 1,585 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of American International Group by 42.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,465,871 shares of the insurance provider’s stock worth $106,715,000 after buying an additional 437,339 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Buying and Selling at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

American International Group Stock Down 1.0%

Shares of AIG stock opened at $84.35 on Wednesday. The stock has a market cap of $48.61 billion, a P/E ratio of -40.55, 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 quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $82.42 and its two-hundred day simple moving average is $78.70.

American International Group (NYSE:AIG) last posted its 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. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the previous year, the firm posted $1.25 EPS. Analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.13%. This is an increase from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, June 13th. American International Group’s dividend payout ratio is presently -67.67%.

Analysts Set New Price Targets

AIG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on American International Group to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Evercore ISI boosted their target price on American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $91.00 price objective (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group upped their price objective on American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

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.