DnB Asset Management AS Has $8.46 Million Stake in American International Group, Inc. (NYSE:AIG)

DnB Asset Management AS lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,135 shares of the insurance provider’s stock after selling 3,892 shares during the period. DnB Asset Management AS’s holdings in American International Group were worth $8,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in American International Group by 32.4% in 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 purchasing an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of American International Group by 3.4% in the 4th 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 buying an additional 461,912 shares during the period. Norges Bank bought a new stake in shares of American International Group in the 4th quarter valued at $718,013,000. Bank of New York Mellon Corp raised its stake in American International Group by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after buying an additional 347,982 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in American International Group by 5.3% during the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after acquiring an additional 457,821 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Price Performance

Shares of AIG opened at $83.55 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $78.53 and its 200 day simple moving average is $75.93. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $85.11. The company has a market cap of $49.57 billion, a price-to-earnings ratio of -40.17, a PEG ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate 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%. On average, research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. American International Group’s payout ratio is -76.92%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIG. Wells Fargo & Company increased their price target on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $79.00 price objective (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Finally, UBS Group reduced their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, American International Group has an average rating of “Moderate Buy” and an average price target of $84.31.

Insider Transactions at American International Group

In related news, Director John G. Rice bought 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.