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

Highland Capital Management LLC cut its stake in American International Group, Inc. (NYSE:AIG) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,091 shares of the insurance provider’s stock after selling 1,520 shares during the quarter. Highland Capital Management LLC’s holdings in American International Group were worth $5,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AIG. Christopher J. Hasenberg Inc purchased a new stake in American International Group in the third quarter worth approximately $26,000. True Wealth Design LLC bought a new position in shares of American International Group during the 3rd quarter valued at $29,000. Fortitude Family Office LLC boosted its stake in shares of 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 buying an additional 210 shares during the last quarter. Continuum Advisory LLC increased its position in American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 207 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of American International Group in the third quarter worth approximately $46,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Up 0.4 %

Shares of AIG stock opened at $75.46 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. 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. American International Group, Inc. has a 12-month low of $67.53 and a 12-month high of $80.83. The stock’s 50-day moving average price is $73.79 and its 200-day moving average price is $74.63.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The business 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 previous year, the company posted $1.61 EPS. Equities research analysts predict that American International Group, Inc. will post 4.89 EPS for the current fiscal year.

American International Group Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on AIG. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 price objective (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Wells Fargo & Company increased their target price on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.13.

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.