Procyon Advisors LLC Has $1.65 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Procyon Advisors LLC reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 11.7% during the 4th quarter, HoldingsChannel reports. The fund owned 22,597 shares of the insurance provider’s stock after selling 3,004 shares during the period. Procyon Advisors LLC’s holdings in American International Group were worth $1,645,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new position in American International Group in the 3rd quarter worth about $26,000. True Wealth Design LLC bought a new stake in shares of American International Group in the 3rd quarter valued at approximately $29,000. Continuum Advisory LLC increased its holdings in American International Group by 60.7% in the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after buying an additional 207 shares during the last quarter. Fortitude Family Office LLC lifted its stake in American International Group by 58.3% in the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 210 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in American International Group in the third quarter worth approximately $46,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on AIG. Bank of America lifted their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group upped their price target 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. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Evercore ISI lowered their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.13.

American International Group Stock Up 0.6 %

Shares of AIG opened at $75.06 on Friday. American International Group, Inc. has a 52 week low of $66.06 and a 52 week high of $80.83. The firm has a market capitalization of $46.82 billion, a P/E ratio of -22.14, a P/E/G ratio of 5.51 and a beta of 1.06. The company has a 50-day simple moving average of $73.90 and a 200-day simple moving average of $74.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping 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 positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter last year, the company earned $1.61 EPS. On average, equities research analysts expect that American International Group, Inc. will post 4.91 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.13%. American International Group’s dividend payout ratio 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.