QRG Capital Management Inc. Has $13.62 Million Position in American International Group, Inc. (NYSE:AIG)

QRG Capital Management Inc. reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,037 shares of the insurance provider’s stock after selling 36,062 shares during the period. QRG Capital Management Inc.’s holdings in American International Group were worth $13,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Planning Inc acquired a new position in shares of American International Group during the fourth quarter worth about $26,000. True Wealth Design LLC acquired a new position in shares of American International Group during the third quarter worth about $29,000. BankPlus Trust Department acquired a new position in shares of American International Group during the fourth quarter worth about $36,000. Whipplewood Advisors LLC acquired a new position in shares of American International Group during the fourth quarter worth about $40,000. Finally, Fortitude Family Office LLC boosted its position in shares of American International Group by 58.3% during the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock worth $41,000 after buying an additional 210 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AIG shares. Wells Fargo & Company upped their price objective on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their target price on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. JPMorgan Chase & Co. dropped their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.94.

Insider Transactions at American International Group

In related news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

American International Group Price Performance

Shares of NYSE AIG opened at $79.75 on Friday. The firm has a market cap of $47.32 billion, a P/E ratio of -38.34, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $80.83. The business’s 50 day moving average is $74.30 and its 200-day moving average is $74.69.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

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.