American International Group, Inc. (NYSE:AIG) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its position in American International Group, Inc. (NYSE:AIG) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,040 shares of the insurance provider’s stock after selling 566 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in American International Group were worth $731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group during the third quarter worth $26,000. True Wealth Design LLC purchased a new stake in American International Group during the 3rd quarter valued at about $29,000. Continuum Advisory LLC grew its stake in American International Group by 60.7% during the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 207 shares in the last quarter. Fortitude Family Office LLC lifted its stake in American International Group by 58.3% in the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 210 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of American International Group during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AIG. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $79.00 price target (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. UBS Group raised their target price on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Jefferies Financial Group raised their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Bank of America boosted their target price on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.13.

American International Group Stock Up 0.4 %

NYSE:AIG opened at $75.46 on Thursday. American International Group, Inc. has a 52 week low of $67.53 and a 52 week high of $80.83. The stock’s fifty day moving average is $73.79 and its two-hundred day moving average is $74.63. The stock has a market capitalization of $47.07 billion, a price-to-earnings ratio of -22.26, a price-to-earnings-growth ratio of 5.89 and a beta of 1.06. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates 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 company earned $1.61 EPS. Research analysts anticipate that American International Group, Inc. will post 4.89 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, December 16th. American International Group’s dividend payout ratio (DPR) is currently -47.20%.

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.