Mount Lucas Management LP Reduces Holdings in American International Group, Inc. (NYSE:AIG)

Mount Lucas Management LP reduced its position in American International Group, Inc. (NYSE:AIG) by 60.0% in the 3rd quarter, Holdings Channel reports. The firm owned 11,666 shares of the insurance provider’s stock after selling 17,504 shares during the period. Mount Lucas Management LP’s holdings in American International Group were worth $854,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in AIG. Avantax Advisory Services Inc. lifted its stake in American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of American International Group by 4.8% in the 1st quarter. Blair William & Co. IL now owns 26,753 shares of the insurance provider’s stock valued at $2,091,000 after acquiring an additional 1,222 shares during the period. Patten & Patten Inc. TN raised its position in American International Group by 6.6% in the 1st quarter. Patten & Patten Inc. TN now owns 6,438 shares of the insurance provider’s stock valued at $503,000 after purchasing an additional 400 shares during the last quarter. Clearbridge Investments LLC boosted its stake in American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after purchasing an additional 31,340 shares during the period. Finally, UniSuper Management Pty Ltd grew its position in American International Group by 239.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 21,751 shares of the insurance provider’s stock worth $1,700,000 after purchasing an additional 15,337 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Up 0.0 %

Shares of NYSE AIG opened at $75.77 on Friday. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of -22.35, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. American International Group, Inc. has a 52 week low of $63.57 and a 52 week high of $80.83. The firm has a 50-day moving average price of $75.20 and a 200 day moving average price of $75.69. 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 quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period last year, the firm earned $1.61 EPS. Equities research analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. American International Group’s payout ratio is -47.20%.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. Bank of America upped 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. Barclays initiated coverage on American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Wells Fargo & Company cut their price target on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.13.

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.