United Services Automobile Association Cuts Position in American International Group, Inc. (NYSE:AIG)

United Services Automobile Association reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,897 shares of the insurance provider’s stock after selling 663 shares during the quarter. United Services Automobile Association’s holdings in American International Group were worth $1,085,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after buying an additional 6,119,996 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares in the last quarter. Bank of New York Mellon Corp lifted its position in American International Group by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock valued at $677,825,000 after acquiring an additional 347,982 shares during the last quarter. Franklin Resources Inc. boosted its stake in American International Group by 5.3% in the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock valued at $713,272,000 after acquiring an additional 457,821 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in American International Group by 0.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock worth $543,091,000 after purchasing an additional 59,180 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AIG. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company increased their price target on 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. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Finally, BMO Capital Markets boosted their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. Eight research 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’s stock. According to data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

Insider Activity

In other news, Director John G. Rice bought 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

NYSE:AIG opened at $83.03 on Monday. The firm’s fifty day moving average is $77.45 and its two-hundred day moving average is $75.55. The firm has a market cap of $49.27 billion, a price-to-earnings ratio of -39.92, a PEG ratio of 1.01 and a beta of 0.98. 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 one year low of $69.00 and a one year high of $84.99.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

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