MetLife Investment Management LLC Sells 9,659 Shares of American International Group, Inc. (NYSE:AIG)

MetLife Investment Management LLC cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 167,540 shares of the insurance provider’s stock after selling 9,659 shares during the period. MetLife Investment Management LLC’s holdings in American International Group were worth $12,269,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AIG. Jacobs Levy Equity Management Inc. raised its holdings in American International Group by 7.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 29,286 shares of the insurance provider’s stock worth $2,289,000 after buying an additional 1,982 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in American International Group by 14.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,133 shares of the insurance provider’s stock worth $1,027,000 after acquiring an additional 1,675 shares during the last quarter. iA Global Asset Management Inc. lifted its position in American International Group by 4.1% in the 1st quarter. iA Global Asset Management Inc. now owns 11,093 shares of the insurance provider’s stock valued at $867,000 after acquiring an additional 435 shares in the last quarter. Plato Investment Management Ltd boosted its stake in American International Group by 406.7% during the 1st quarter. Plato Investment Management Ltd now owns 4,961 shares of the insurance provider’s stock valued at $388,000 after purchasing an additional 3,982 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of American International Group in the 1st quarter worth $99,951,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 1.1 %

NYSE:AIG opened at $77.13 on Thursday. American International Group, Inc. has a one year low of $64.54 and a one year high of $80.83. The business has a fifty day moving average price of $75.69 and a 200-day moving average price of $75.51. The firm has a market capitalization of $48.11 billion, a price-to-earnings ratio of -22.75, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the business posted $1.61 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is -47.20%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI lowered their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Bank of America lifted their price target on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and an average price target of $84.80.

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.