Meeder Asset Management Inc. Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Meeder Asset Management Inc. lessened its holdings in American International Group, Inc. (NYSE:AIG) by 94.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,915 shares of the insurance provider’s stock after selling 66,000 shares during the quarter. Meeder Asset Management Inc.’s holdings in American International Group were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIG. Wellington Management Group LLP boosted its stake in shares of American International Group by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after buying an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after purchasing an additional 461,912 shares in the last quarter. Norges Bank acquired a new position in shares of American International Group during the 4th quarter worth $718,013,000. Bank of New York Mellon Corp increased its holdings in shares of American International Group by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock valued at $677,825,000 after purchasing an additional 347,982 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of American International Group by 5.3% in the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock valued at $713,272,000 after purchasing an additional 457,821 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AIG. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price objective on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.31.

Insider Buying and Selling

In other news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $87.01 on Tuesday. The business’s 50-day moving average price is $78.77 and its 200 day moving average price is $76.05. 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 twelve month low of $69.00 and a twelve month high of $87.51. The company has a market capitalization of $51.63 billion, a PE ratio of -41.83, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) 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 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.84%. American International Group’s payout ratio is -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.