Highland Capital Management LLC Sells 3,940 Shares of American International Group, Inc. (NYSE:AIG)

Highland Capital Management LLC trimmed its position in American International Group, Inc. (NYSE:AIG) by 5.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 71,611 shares of the insurance provider’s stock after selling 3,940 shares during the period. Highland Capital Management LLC’s holdings in American International Group were worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after acquiring an additional 44,797 shares during the period. OFI Invest Asset Management grew its position in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after buying an additional 11,149 shares during the period. Coronation Fund Managers Ltd. acquired a new position in American International Group in the 1st quarter valued at approximately $1,367,000. Finally, Illinois Municipal Retirement Fund raised its stake in shares of American International Group by 19.0% during the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock valued at $12,206,000 after acquiring an additional 24,906 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Trading Down 1.1 %

Shares of American International Group stock opened at $76.81 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 52 week low of $59.12 and a 52 week high of $80.83. The stock has a 50 day moving average price of $74.83 and a two-hundred day moving average price of $75.51. The stock has a market capitalization of $50.98 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 5.09 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AIG. Morgan Stanley decreased their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. BMO Capital Markets downgraded American International Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Citigroup cut their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Bank of America increased their target price on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, UBS Group upped their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.38.

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.