Thoroughbred Financial Services LLC Reduces Holdings in American International Group, Inc. (NYSE:AIG)

Thoroughbred Financial Services LLC lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 7.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,673 shares of the insurance provider’s stock after selling 1,307 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in American International Group were worth $1,140,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AIG. Duncker Streett & Co. Inc. acquired a new position in shares of American International Group in the 4th quarter valued at $25,000. Asset Planning Inc acquired a new position in American International Group in the fourth quarter valued at about $26,000. BankPlus Trust Department purchased a new position in American International Group during the fourth quarter worth about $36,000. Whipplewood Advisors LLC acquired a new stake in shares of American International Group during the fourth quarter valued at about $40,000. Finally, Fortitude Family Office LLC raised its stake in shares of American International Group by 58.3% in the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 210 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In related news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost 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 approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

American International Group Price Performance

Shares of AIG opened at $78.83 on Friday. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of -37.90, a PEG ratio of 1.01 and a beta of 0.63. The firm’s fifty day simple moving average is $79.60 and its 200-day simple moving average is $76.36. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

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%. Equities analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AIG shares. The Goldman Sachs Group lifted their target price on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods lifted their price objective on American International Group from $90.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. UBS Group decreased their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company lifted their target price on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.12.

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.