Centric Wealth Management Sells 534 Shares of American International Group, Inc. (NYSE:AIG)

Centric Wealth Management lessened its stake in American International Group, Inc. (NYSE:AIG) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 33,158 shares of the insurance provider’s stock after selling 534 shares during the period. Centric Wealth Management’s holdings in American International Group were worth $2,414,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. increased 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 purchasing an additional 461,912 shares in the last quarter. Franklin Resources Inc. increased its stake in 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. Norges Bank acquired a new stake in American International Group in the fourth quarter worth $718,013,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 worth $677,825,000 after purchasing an additional 347,982 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AIG shares. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Wednesday, March 5th. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, UBS Group reduced their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Eight equities 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 stock. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.31.

Insider Buying and Selling at American International Group

In other American International Group news, Director John G. Rice purchased 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of NYSE AIG opened at $87.01 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50-day moving average of $78.77 and a 200-day moving average of $76.05. The stock has a market capitalization of $51.63 billion, a price-to-earnings ratio of -41.83, a PEG ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $87.51.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

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.