JTC Employer Solutions Trustee Ltd Sells 40,000 Shares of American International Group, Inc. (NYSE:AIG)

JTC Employer Solutions Trustee Ltd trimmed its stake in American International Group, Inc. (NYSE:AIG) by 15.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,000 shares of the insurance provider’s stock after selling 40,000 shares during the quarter. American International Group makes up 1.1% of JTC Employer Solutions Trustee Ltd’s portfolio, making the stock its 9th biggest holding. JTC Employer Solutions Trustee Ltd’s holdings in American International Group were worth $17,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of American International Group by 18.7% during the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after purchasing an additional 319,948 shares during the last quarter. American Century Companies Inc. grew its stake in American International Group by 22.6% in the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after acquiring an additional 77,874 shares during the period. Essex Financial Services Inc. acquired a new position in American International Group in the 4th quarter valued at $260,000. TCW Group Inc. purchased a new position in shares of American International Group during the 4th quarter worth $724,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of American International Group during the fourth quarter worth $948,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIG. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Thursday, June 27th. Morgan Stanley raised their target price on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company lifted their price target on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a report on Wednesday, May 15th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $81.38.

American International Group Stock Down 0.2 %

NYSE:AIG traded down $0.18 during trading hours on Wednesday, hitting $75.15. The stock had a trading volume of 2,341,229 shares, compared to its average volume of 4,134,611. The company has a market cap of $49.87 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The business has a 50 day simple moving average of $76.74 and a two-hundred day simple moving average of $73.42. American International Group, Inc. has a 1-year low of $56.88 and a 1-year high of $80.83. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same period last year, the business earned $1.63 EPS. Analysts predict that American International Group, Inc. will post 7.02 EPS for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, June 14th. American International Group’s payout ratio is presently 23.88%.

American International Group declared that its board has initiated a share buyback plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

American International Group 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.