Highland Capital Management LLC Sells 1,520 Shares of American International Group, Inc. (NYSE:AIG)

Highland Capital Management LLC lowered its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 70,091 shares of the insurance provider’s stock after selling 1,520 shares during the period. Highland Capital Management LLC’s holdings in American International Group were worth $5,103,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in shares of American International Group during the third quarter valued at about $26,000. True Wealth Design LLC bought a new position in American International Group during the 3rd quarter worth approximately $29,000. Continuum Advisory LLC increased its stake in American International Group by 60.7% in the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares during the period. Fortitude Family Office LLC lifted its position in American International Group by 58.3% in the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 210 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of American International Group during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AIG. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Evercore ISI dropped their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Bank of America boosted their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods reduced their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.13.

American International Group Price Performance

Shares of AIG opened at $75.46 on Thursday. American International Group, Inc. has a fifty-two week low of $67.53 and a fifty-two week high of $80.83. The firm’s 50-day simple moving average is $73.79 and its two-hundred day simple moving average is $74.63. The stock has a market cap of $47.07 billion, a PE ratio of -22.26, a price-to-earnings-growth ratio of 5.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the prior year, the business posted $1.61 EPS. Analysts anticipate that American International Group, Inc. will post 4.89 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. American International Group’s payout ratio is presently -47.20%.

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.