MetLife Investment Management LLC Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

MetLife Investment Management LLC reduced its stake in American International Group, Inc. (NYSE:AIG) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,540 shares of the insurance provider’s stock after selling 9,659 shares during the quarter. MetLife Investment Management LLC’s holdings in American International Group were worth $12,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers raised 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 buying an additional 44,797 shares in the last quarter. OFI Invest Asset Management lifted its stake in American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 9,805 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of American International Group by 8.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after purchasing an additional 10,581 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in shares of American International Group during the 3rd quarter valued at about $494,000. Finally, Victory Capital Management Inc. raised its holdings in shares of American International Group by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock valued at $69,748,000 after buying an additional 54,419 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIG has been the subject of several research reports. TD Cowen reduced their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Evercore ISI decreased their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Finally, StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

American International Group Stock Performance

NYSE:AIG opened at $77.13 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $64.54 and a twelve month high of $80.83. The stock has a market cap of $48.11 billion, a P/E ratio of -22.75, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. The firm’s fifty day simple moving average is $75.69 and its 200 day simple moving average is $75.51.

American International Group (NYSE:AIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. As a group, research analysts predict that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is presently -47.20%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

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.