Alliancebernstein L.P. Sells 1,407,019 Shares of American International Group, Inc. (NYSE:AIG)

Alliancebernstein L.P. cut its stake in American International Group, Inc. (NYSE:AIG) by 66.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 714,347 shares of the insurance provider’s stock after selling 1,407,019 shares during the quarter. Alliancebernstein L.P.’s holdings in American International Group were worth $52,004,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AIG. Catalina Capital Group LLC lifted its stake in shares of American International Group by 5.1% in the 4th quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 148 shares during the period. Hilltop National Bank lifted its position in American International Group by 4.7% during the fourth quarter. Hilltop National Bank now owns 3,888 shares of the insurance provider’s stock valued at $283,000 after buying an additional 175 shares during the period. Cidel Asset Management Inc. boosted its holdings in shares of American International Group by 2.1% during the 4th quarter. Cidel Asset Management Inc. now owns 8,711 shares of the insurance provider’s stock valued at $634,000 after buying an additional 179 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in American International Group by 11.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,745 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 179 shares in the last quarter. Finally, Foster & Motley Inc. increased its stake in shares of American International Group by 0.8% during the fourth quarter. Foster & Motley Inc. now owns 23,552 shares of the insurance provider’s stock valued at $1,715,000 after purchasing an additional 194 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Transactions at American International Group

In other news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were acquired 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 trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on American International Group to $91.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI increased their price objective on shares of American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research report on Tuesday. Wells Fargo & Company lifted their target price on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on shares of American International Group from $76.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.12.

American International Group Stock Performance

NYSE AIG opened at $78.83 on Friday. The company has a market cap of $46.77 billion, a P/E ratio of -37.90, a P/E/G ratio of 1.01 and a beta of 0.63. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The business’s 50 day moving average price is $79.60 and its 200-day moving average price is $76.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last released its earnings results 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%. Sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

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

American International Group 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.